May 15, 2018 / 8:14 AM / in a year

UK opens books on syndication of new 2071 gilt

LONDON, May 15 (Reuters) - Britain opened books on Tuesday for the sale via syndication of several billion pounds of a new gilt maturing in October 2071 with a coupon of 1.625 percent, one of the bookrunners on the deal said.

Initial price guidance for the gilt — which will be the longest-dated one in issue in Britain — was set to give a yield 0.5 to zero basis points lower than the current longest-dated gilt, which matures in July 2068.

The syndication will be led by Barclays, Deutsche Bank, Goldman Sachs International and NatWest Markets as joint bookrunners. (Reporting by David Milliken Editing by Catherine Evans)

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