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Investing.com -- The United Kingdom is on track to raise a record £14 billion ($18.7 billion) from its sale of 10-year gilts after attracting exceptional investor demand, Bloomberg reported on Tuesday.
The bond, which matures in October 2035, drew more than £140 billion in bids, according to Bloomberg, citing people familiar with the sale.
The 10-year gilt is set to price at 8.25 basis points over the equivalent benchmark, at the tight end of guidance, and carries a 4.75% coupon.
Vanguard, one of the world’s largest asset managers, has taken a sizable position in the deal, the report indicated.
This gilt sale represents the largest amount the UK has ever raised in a single bond offering, highlighting strong investor appetite for British government debt.
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