UK opens books on launch of new 40-year bond
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 <GBT0H61=> 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)