Chancellor George Osborne announced the intention to consult on ultra-long gilts, at the time rumoured to be around 99-years in length, in the 2012 budget. After consultation, demand for gilts that long seemed limited with the DMO settled on 55 years.
The DMO launched its sale on 25 June, leading to expressions of interest reaching £12.8bn (PP Online, 25 June). Barclays, Lloyds Bank, Nomura and The Royal Bank of Scotland (RBS) managed the syndic...
To continue reading this article...
Join Professional Pensions
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, analysis and opinion from the industry
- Receive our in-depth monthly magazine in either print or digital format
- Access our Sustainable Investment Hub covering news and opinion from thought leaders in the ESG space
- Receive important and breaking news stories selected by the Editors in our daily newsletter
- Hear from industry experts and other forward-thinking leaders
- Receive a monthly members-only newsletter with exclusive opinion pieces from leading industry experts and a feature from the magazine in advance of its release date
