October 20, 2015 / 8:29 AM / 2 years ago

Books open for launch of new UK 2065 gilt - bookrunner

LONDON, Oct 20 (Reuters) - Books have opened for the launch via syndication of a new British government bond maturing in July 2065, a bookrunner said on Tuesday.

The price guidance for the bond with a coupon of 2.5 percent is for the yield to offer 1.5 to 2.5 basis points above the 2068 gilt, the bookrunner added.

The syndication needs to raise around 4.5 billion pounds ($6.97 billion) to meet the UK Debt Management Office’s target for conventional bond issuance via syndication for the 2015/16 financial year.

The bookrunners on the deal are BofA Merrill Lynch, JPMorgan, RBS and Santander.

$1 = 0.6460 pounds Reporting by Ana Nicolaci da Costa, editing by David Milliken

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