UK Sovereign
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Two debut renminbi bond offerings are expected to price in the next two weeks ahead China’s President Xi Jinping’s visit to the UK later this month. While The People’s Bank of China (PBoC) is aiming to offer its first overseas RMB central bank note on October 20, China Construction Bank (CCB) is to bring the UK market the first CNH offering issued by its head office on October 12, several sources have told GlobalRMB.
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The UK Debt Management Office was this week able to print an increase of its 2068 linker at the tight end of guidance.
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The UK Debt Management Office has hired four banks to run an upcoming syndication of its 2068 inflation linked bond.
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The UK Debt Management Office plans to reopen an ultra-long index-linker in the second half of September. The deal will be the sovereign’s third syndication of its financial year.
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Since March 2009 Britain’s benchmark official rate has been 0.5% — the lowest rate in the Bank of England’s 320 year history, its long term average being about 4.5%. But recently BoE's governor Mark Carney speculated that it will begin to rise from the end of the year to around 2%, possibly heralding the end of the era of cheap money.
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The UK Debt Management Office is likely to pick a reopening of its 2068 inflation-linked Gilt for its September syndication, after holding a consultation with Gilt-edged Market Makers and investors on Monday.
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The UK Debt Management Office reopened a 2068 bond on Tuesday with a syndication that was nearly four times subscribed.
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The UK Debt Management Office has finalised details on the timing and tenor of what will be its second syndication of the 2015-16 financial year.
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The UK Debt Management Office has announced which banks will be on its next bond syndication, a conventional Gilt with a maturity of at least 40 years, scheduled for the second half of July.
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The UK’s Debt Management Office will have a little less work to do this financial year after it cut its 2015-16 target by £14bn on Wednesday.
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The UK Debt Management Office kicked off its syndication schedule for the 2015-16 financial year with a bond that was more than two times subscribed.