UK to sell 2065 gilt in syndication in week starting Sept. 4

LONDON: Britain's government debt agency said on Tuesday it had picked the July 2065 gilt to sell at its next syndication in the week starting Sept. 4, and is likely to try to raise more than 4 billion pounds ($5.13 billion) through the issue.

The UK Debt Management Office drew a record amount of demand at its last syndication of long-dated conventional gilts in May, which raised 5.077 billion pounds through the sale of 1.75 percent 2057 gilts with a face value of 5 billion pounds.

The debt agency aims to raise a combined 9.5 billion pounds from that last sale and the one taking place next month.

The 2065 gilt, which has a 2.5 percent coupon, currently offers a yield of 1.60 percent.