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GILT SYNDICATION: Coupon Set For New Jan-40 Gilt

GILT SYNDICATION

The DMO has announced that the coupon for the new Jan-40 Gilt (to be launched via syndication next week) will be 4.375%. We had noted that around 4.25% looked broadly in line with current market pricing, but that this was likely to be tweaked an eighth higher or lower as there is already a 4.25% 2040 gilt in issue.

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