UK Sovereign
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The UK Debt Management Office launched a syndication on Tuesday, printing a new October 2050 line and raising £9bn. -
The UK Debt Management Office has announced the timing and the banks for its upcoming syndication next month, as it continues to plough through its unprecedented borrowing programme.
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The EU should further loosen bank leverage ratio requirements if it wants to avoid a credit crunch amid Covid-19, according to Michael Lever, head of prudential regulation at the Association for Financial Markets in Europe.
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The Bank of England this week signaled that it is changing its stance and considering bringing its base rate into negative territory. But with the UK Debt Management Office (DMO) issuing three year paper with a negative yield for the first time, as well as printing £7bn ($8.56bn) of 41 year bonds, there are few worries for the SSA market.
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Following last week’s record-breaking Gilt syndication, the UK returned for another impressive result, scooping up £7bn from a £52bn book and pricing with a minimal new issue premium, according to the leads.
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Trading levels given are bid-side spreads versus mid-swaps and/or an underlying benchmark and bid-yields from the close of business on Monday, May 18. The source for secondary trading levels is ICE Data Services.
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The UK Debt Management Office launched its first bond syndication of the new financial year on Tuesday, smashing all previous records for deal and order book size and making a healthy start on its largest ever borrowing programme in response to the coronavirus pandemic. Despite the huge size, the deal caused “barely a ripple”, thanks to the support of the Bank of England’s asset purchase facility.
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The UK Debt Management Office launched its first syndication of the new financial year on Tuesday, smashing all previous records for deal and order book size and making a healthy start on the sovereign’s largest ever borrowing programme in response to the coronavirus pandemic.
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The UK Debt Management Office has picked the banks to lead the sale of its new October 2061 conventional Gilt, which will be its second of an unprecedented two syndications in a single calendar month.
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The UK Municipal Bonds Agency has announced the two first councils that will take part in its pooled issuance scheme, although the bonds themselves may well not be issued before the summer.
