UK opens books on launch of new 15-year bond

[LONDON] Britain opened order books on Tuesday for the sale of several billion pounds' worth of a new government bond maturing in July 2035, part of the country's borrowing surge to help pay for its response to the coronavirus crisis.

The 0.625 per cent 2035 gilt is initially priced to yield between 13 and 13.5 basis points more than the 4.5 per cent September 2034 gilts, a bookrunner involved in the syndication said.

BofA Merrill Lynch, Citi, JP Morgan, Lloyds Bank Corporate Markets and RBC Capital Markets are acting as joint bookrunners on the transaction.

REUTERS