November 29, 2016 / 11:06 AM / 2 years ago

UK DMO launches £2.25bn 40-year inflation-linked bond at 2bp over 2058 UKTi

LONDON, Nov 29 (IFR) - The United Kingdom Debt Management Office has launched a £2.25bn 40-year inflation-linked bond at 2bp over its outstanding 2058 linker, according to a lead.

Order books closed over £11.5bn, including £2.7bn from the joint lead managers.

The November 2056 transaction will price at the tight end of the 2-2.75bp guidance over the 2058 UKTi and 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)

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