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1.25% Nov-54 I/L gilt tap: Allocations

GILT SYNDICATION
  • Size: GBP4.5bln (MNI had expected GBP3.0-4.0bln with risks of a larger size)
  • Spread set earlier at 1.25% Nov-55 I/L gilt (GB00B0CNHZ09) +4.00bp
  • Guidance was +4.00/+4.25 bps
  • Final orderbook in excess of GBP63.5bln (inc JLM interest of GBP4.275bln)
  • HR: 49% vs 1.25% Nov-55 I/L gilt
  • Expected Settlement Date: 10-Jul-2024 (T+1)
  • ISIN: GB00BPSNBG80
  • Joint Leads: BNP Paribas / JP Morgan / Morgan Stanley / Nomura (B&D/DM)
  • Timing: Allocations out, hedge deadline 12:15BST
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