UK DMO flooded with demand for linker sale

By Tessa Wilkie
31 Jan 2014

Demand for the UK Debt Management Office’s last syndication of the fiscal year this week broke records. A re-opening of the 2068 index-linked Gilt attracted the largest ever book for a UK linker syndication.

Bank of America Merrill Lynch, HSBC, Nomura and Scotiabank were able to price the tap on Wednesday afternoon at 0.25bp over the 0.375% index-linked Gilt. That was at the tight end of guidance circulated earlier of 0.25bp-0.75bp over.

Orders topped £4bn within five minutes of books opening ...

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