UK DMO pulls in £16.5bn of orders to 2045 syndication

By Tessa Wilkie
26 Jun 2014

The UK Debt Management Office raised £5bn of January 2045 money this week with a deal that was several times subscribed — despite the potential of an appearance by the governor of the Bank of England before the Treasury Select Committee to induce volatility in sterling bond markets during the book-build. The deal was one of two DMO syndications this week, coming a day before its debut sukuk bond (see cover story).

The deal marks the DMO’s first syndication of its financial year, and it plans to follow it up with another long-dated deal later this summer: a syndication of an index-linked Gilt of 25 years or longer.  

“We have announced that we are looking to do a long-dated ...

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