LONDON, May 14 (Reuters) - Britain set the price for a new 1.625 percent 2054 government bond at the top end of initial guidance after receiving more than 28.5 billion pounds ($36.9 billion) in orders for the gilt, one of the bookrunners on the transaction said.
The gilt was priced to yield 0.25 basis points below the benchmark 3.75 percent 2052 gilt, implying a price at the top end of the initial guidance of 0.25 basis points below to flat versus the 2052 gilt.
Order books closed at 0900 GMT. Citi, HSBC, NatWest Markets and Santander are acting as lead managers on the transaction. ($1 = 0.7726 pounds) (Reporting by David Milliken; editing by Michael Holden)