October 20, 2015 / 12:40 PM / 2 years ago

UK sells 4.75 bln stg of new 50-year government bond

LONDON, Oct 20 (Reuters) - Britain sold 4.75 billion pounds ($7.35 billion) of a new 50-year government bond after it attracted a record volume of orders when it launched the July 2065 gilt via a syndication on Tuesday.

Investors placed orders for more than 21.8 billion pounds, according to a bookrunner.

The UK Debt Management Office said it would sell the bond at a re-offer price of 98.403, equivalent to a yield of 2.557 percent.

The syndication needed to raise around 4.5 billion pounds to meet the debt agency’s target for conventional bond issuance via syndication for the 2015/16 financial year. ($1 = 0.6462 pounds) (Reporting by Ana Nicolaci da Costa, editing by David Milliken)

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