LONDON, Nov 29 (IFR) - Demand for the United Kingdom Debt Management Office’s 40-year inflation-linked bond is in excess of £9bn, according to a lead.
This includes £2.7bn of joint lead managers’ interest.
Price guidance remains at 2-2.75bp over the outstanding March 2058 linker.
Order books are expected to close at 10:00am London.
The November 2056 deal is expected to have a benchmark size and will pay a coupon of 0.125%.
Bank of America Merrill Lynch, Deutsche Bank, Morgan Stanley (B&D) and Scotiabank are running the Reg S deal, which will price on Tuesday.
The UK is rated Aa1 by Moody’s and AA by S&P and Fitch, all with a negative outlook. (Reporting by Michael Turner, Editing by Helene Durand)