The DMO has appointed a panel comprising exclusively wholesale GEMM firms from which
it has chosen syndicate members for the conduct of the programme of syndicated offerings
The re-opening of 0⅜% Index-linked Treasury Gilt 2062 will be the eighth and final transaction in the 2011-12 programme, which has raised £30bn to date.
Syndicated offerings of index-linked gilts have raised £15.4bn to date, relative to a planned target of £18.9bn.
The DMO expects that the sale will take place in the week commencing February 20th, subject to market conditions. Further details about the conduct of the offer will be announced in due course.
Co-lead managers were invited among the DMO's Index-linked GEMMs panel members.
The DMO financing remit for 2011-2012 was published alongside the UK Budget on March 23rd last year and included the provision for a programme of up to eight syndicated offerings to be held in
period to raise some £31.6bn (cash).
The DMO also announced on the same days its intention to implement the programme of syndicated gilt offerings in 2011-2012 more evenly across the year than in the previous financial year via smaller and more regular operations than in 2010-11.
At the Autumn Statement on November 29th last year planned sales by syndicated offerings of
long-dated conventional and index-linked gilts were each increased by £0.3bn, to £13.8bn and £18.9bn respectively, taking total planned sales to £32.7bn (cash).
By early December the DMO announced that it expected (subject to market conditions) to
re-open 3¾% Treasury Gilt 2052 by a syndicated offering in the second half of January
and to sell an index-linked gilt by syndicated offering in the second half of February
On January 6th 2 the DMO then announced that the index-linked syndicated offering
planned for the second half of February would be a re-opening of 0⅜% Index-linked
Treasury Gilt 2062.