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Today will see the.............>

GILT AUCTION PREVIEW
GILT AUCTION PREVIEW: Today will see the syndication of the 0.125% Aug-41
linker.
- We expect a nominal Stg2,500mln to be issued, which would raise just around
Stg4,100mln in cash terms. There is a chance that the deal could be upsized,
subject to demand, to Stg2,750mln which would bring in cash proceeds of around
Stg4,500mln. If this was the case, we would expect around Stg500mln to be moved
from the DMO's unallocated issuance bucket to the linker syndication bucket in
order to keep the expected size for the final linker syndication of the year at
Stg4,000mln.
- The joint bookrunners for the deal will be Goldman Sachs, JP Morgan, Nomura
and UBS.
- For full details on UK issuance see the MNI Gilt Issuance, Redemption and Cash
Flow Matrix: https://emedia.marketnews.com/marketnewsintl/UKCFM040719.pdf

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