U.K. DMO Sells GBP4 Billion in New November 2054 Index-Linked Gilt via Syndication

Miriam Mukuru

The U.K. Debt Management Office sold 4 billion pounds ($5.12 billion) in a new 1.25% November 2054 index-linked gilt via syndication on Wednesday, it said.

This is the seventh and final sale in the DMO's syndication program for fiscal 2024.

U.K. domestic investors were the dominant buyers of the issue, taking around 93% of the total allocation, the DMO said.

"The transaction achieved a very high-quality reception from our core investor base, as illustrated by a record-sized investor order book for this asset class," it said.

The syndication marks a strong starting point for the 30-year index-linked benchmark, DMO said.

The DMO has raised GBP34.3 billion via syndications in fiscal 2024.

Write to Miriam Mukuru at [e-mail]

(END) Dow Jones Newswires

03-13-24 1232ET