UK appoints book-runners to sell 30 year debt

The UK Government’s Debt Management Office (DMO) said on Friday it appointed Barclays, Goldman Sachs International, Lloyds Bank Corporate Markets, NatWest Markets and RBC CM as joint book-runners for the syndicated sale of a 2051 gilt later this month.

A Reuters poll of bond dealers showed last month that the UK is likely to sell £247.2 billion of UK government bonds in the coming financial year, the second-highest total on record.

“The United Kingdom Debt Management Office (DMO) announces the appointment of a syndicate to sell by subscription the forthcoming new conventional gilt maturing on 31 July 2051,” said the DMO on Friday.

“The transaction is planned to take place in the week commencing 26 April 2021, subject to demand and market conditions …

“This will be the first transaction in the 2021-22 syndication programme.

“Further details of the sale, including the coupon on the new gilt, will be announced in due course.”

 

About the Author

Mark McSherry
Dalriada Media LLC sites are edited by veteran news journalist Mark McSherry, a former staff editor and reporter with Reuters, Bloomberg and major newspapers including the South China Morning Post, London's Sunday Times and The Scotsman. McSherry's journalism has also appeared in The Washington Post, The Guardian, The Independent, The New York Times, London's Evening Standard and Forbes. McSherry is also a professor of journalism and communication arts in universities and colleges in New York City. Scottish-born McSherry has an MBA from the University of Edinburgh and a Certificate in Global Affairs from New York University.