UK DMO opens syndication of 2038 index-linked gilt

Books opened for the sale via syndication of a new 1.75% September 2038 index-linked gilt, a bookrunner for the deal said on Tuesday.

Bookrunners on the transaction said their initial price guidance for the gilt was for it to yield 11.75 to 12.25 basis points more than the November 2037 inflation-linked gilt (GBIL1E37=).

Barclays, Citi, Nomura and RBC are acting as joint leads on the transaction.