Bank of England starts US dollar bond sale

Mon Mar 10, 2014 4:12am EDT

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LONDON, March 10 (IFR) - The Bank of England, rated Aa1/AAA/AA+, has opened order books on a new three-year US dollar bond issue with guidance at mid-swaps minus 1bp area, a source close to the discussions said on Monday.

Barclays, Credit Suisse, JP Morgan and RBC will price the bond later on Monday, which will be used to refinance the Bank's foreign currency reserves.

The expected size is US$2bn, in keeping with identical issues in 2012 and 2013, said one lead manager.

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