May 19, 2020 / 7:50 AM / 18 days ago

UK opens books on launch of new 40-year bond

LONDON, May 19 (Reuters) - Britain opened order books on Tuesday for the sale of several billion pounds’ worth of a new government bond maturing in October 2061, one of the bookrunners involved in the syndication said.

The 0.5% 2061 gilt is initially priced to yield the same or 0.5 basis points more than the 4% January 2060 gilt .

The launch of a new 10-year gilt via syndication last week - part of the government’s planned surge in borrowing to help pay for its coronavirus response programme - drew record orders worth more than $100 billion.

Deutsche Bank, Morgan Stanley, NatWest Markets and UBS are acting as joint leads on the transaction. (Reporting by David Milliken Editing by William Schomberg)

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