By Lewis McLellan
27 May 2021
The UK demonstrated this week the power of investor appetite for products offering protection from the burgeoning threat of inflation. However, while there is huge demand across Europe, few issuers find themselves in a position to capitalise, writes Lewis McLellan. The UK Debt Management Office is certainly one of those borrowers. It hit the market this week with a £4bn index-linked Gilt maturing in 2039. HSBC, JP Morgan, Morgan Stanley and Nomura ran the book, offering guidance of flat to 0.5bp through the 0.625% 2040 index-linked Gilt. With
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By Burhan Khadbai
11.15 AM
The UK Debt Management Office reduced its borrowing programme on Friday following a lower funding requirement for its previous financial year than it had originally expected.
The DMO now expects to raise £252.6bn in the Gilt market during its 2021/22 financial year, down from the £295.9bn it announced last month following the government s Budget.The downward revision is mainly due to a £35.2bn lower net cash requirement than had been previously forecast in
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