March 4, 2014 / 2:15 PM / in 4 years

Bank of England plans annual US dollar bond issue

LONDON, March 4 (IFR) - The Bank of England, rated Aa1/AAA/AA+, has hired a group of banks to manage the sale of a new three-year US dollar bond issue, one of the lead managers said on Tuesday.

Barclays, Credit Suisse, JP Morgan and RBC will launch the deal in the coming weeks, subject to market conditions, 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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