UK attracts bumper book for record low print
The United Kingdom Debt Management Office assembled an £8.5bn order book this week to print its lowest ever long-dated conventional coupon as international investors flocked to the safety of the long end of the Gilt curve.
The DMO on Tuesday priced £4.5bn of its new 3.75% July 2052 Gilt only four hours after opening order books. International investors accounted for 13% of the book, higher than in recent Gilt sales in a part of the curve usually the preserve of the domestic investor.
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