UK raises £6.5bn with first 2021 syndication

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By Lewis McLellan
19 Jan 2021

The UK Debt Management Office launched a new 25 year line on Tuesday, raising £6.5bn. The DMO also published the minutes of its call with investors and Gilt-edged Market Makers on Monday, revealing strong appetite for inflation-linked products.

The leads — BNP Paribas, Deutsche Bank, HSBC and Nomura — opened books on Tuesday morning with guidance of 2.5bp-3bp over the 3.5% January 2045 Gilt.

The order book grew swiftly, exceeding £45bn (with lead orders of £6.15bn) after only half an hour. After ...

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