U.K.’s Longest-Maturity Bond Offer Has Buyers Waiting to Pounce
- DMO is selling gilts maturing in 2071 twice this quarter
- 50-year debt sales have seen record oversubscription rates
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U.K. bond investors eager for the government to sell more of its longest-dated debt appear to have gotten their way.
A bond auction on Tuesday will include a 1 billion-pound ($1.37 billion) offering of gilts maturing in 2071 with more scheduled for sale in June. Minutes of a conference call with the Debt Management Office last month revealed investors asked for more of the bonds because there isn’t enough to go around. It also cited dealers reporting strong demand for the longest-dated gilts.