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MNI UK Issuance Deep Dive: September 2021

The DMO published its gilt operations calendar for FQ3 this morning (the October to December period). Relative to our expectations laid out in the August UK Issuance Deep Dive, there were few surprises.

The full document is available via the link below:

MNI_UK_DeepDive_Issuance_Sep2021.pdf

  • Green gilt issuance has been confirmed as a Jul-33 gilt W/C 20 September and a 20-30-year in mid-late October.• A new 10-year conventional gilt will be launched on 17 November with a Jan-32 maturity.
  • The linker syndication has been confirmed for the W/C 22 November and will be 40+ year (we had previously expected 30+ year).
  • We have updated our monthly net cash flow estimates on page 4 and the gilt operations calendar on page 5.



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