Free Trial

April / May syndications

GILTS

Earlier this morning the DMO announced the details of the April linker syndication and re-confirmed the long syndication for May:

  • A new linker maturing 22 March 2045 with ISIN GB00BMF9LH90 will be launched in the W/C 24 April. MNI pencils in Wednesday 26 April to avoid the release of the fiscal data on Tuesday 25 April which will likely be accompanied by an update to the remit as the data will include the final print for CGNCR for 2022/23. MNI pencils in a GBP4.5-6.0bln transaction size. Previously it was announced this would be a new 15-25 year linker, but market expectations had been for a March 2045 maturity, so this is not a surprise.
  • The DMO has re-confirmed the syndication in the W/C 15 May will be for a new 22 October 2063 gilt with an ISIN GB00BMF9LF76. We look for a Wednesday transaction (17 May) to avoid the labour market data due on the Tuesday. We pencil in a transaction size of GBP3.0-4.0bln nominal.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.