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LONDON, Jan 29 (Reuters) - British domestic investors accounted for 85 percent of the demand for the 4 billion pounds ($6.28 billion) of 2044 gilts sold via syndication on Tuesday, the UK Debt Management Office said.
The 4 billion pounds sold was at the high end of analysts' expectations, and the DMO said it would now seek to raise just 1 billion pounds from its mini-tender programme in the remainder of the 2012/13 financial year, 300 million pounds less than previously planned.
"As one would expect, given the maturity of the bond on offer, our core domestic investor base took the great majority of the allocations, but I was also pleased to see overseas participation at 15 percent, the second-highest such allocation in our syndication programme to date," DMO chief executive Robert Stheeman said.
The 4 billion pounds of 2044 gilts will be issued on Jan. 30, taking the total amount of the gilt in circulation to 8.25 billion pounds in nominal terms, the DMO said.