UK Sovereign

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.

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.

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.

The UK Debt Management Office has chosen the banks to lead what will be the first of an unprecedented two syndicated offerings in a single calendar month as it prepares to finance a substantial increase in its borrowing requirements.

The UK Debt Management Office has announced a borrowing programme that will, in the next four months alone, exceed the country’s largest ever annual total. Gilt yields have stayed steady, thanks to investors’ faith in the Bank of England’s asset purchase facility.

The UK Debt Management Office has announced a borrowing programme that will, in the next four months alone, exceed the country’s largest ever annual borrowing volume. Gilt yields have stayed steady, thanks to investors’ faith in the Bank of England’s asset purchase facility.

One of the co-heads of the London Group of Tradition, the interdealer broker that is one of the largest in the over-the-counter derivatives market, is leaving the firm.

Gilt market participants are expecting UK government borrowing to explode to close to £300bn this year. However, despite the huge supply, the Bank of England’s buying programme will prove even bigger and maintain price tension. To further ease the strain on cashflows, the Bank of England is expanding its Ways and Means Facility for the short-term.

The UK Debt Management Office (DMO) and local councils should sell social bonds to help tackle the Covid-19 crisis, said a director for responsible investment at a large asset manager.

The UK Debt Management Office announced plans this week to raise the biggest volume of Gilts in a single calendar month as it prepares for a significant increase to its financing programme from government’s measures to support the economy through the coronavirus outbreak.

The Covid-19 pandemic is forcing many of Europe's sovereigns to expand their borrowing programmes. This week's funding scorecard looks at the changes European sovereigns have made to respond to the crisis, and the progress they have made in their funding programmes as we approach the end of the first quarter.

The UK Debt Management Office will boost the size of its Gilt issuance programme for its upcoming financial year by up to an additional £45bn in response to the UK’s fiscal package to counter the economic impact of the Covid-19 pandemic, according to a head of UK rates strategy.