UK sees record demand in sale of 50-year bond

Britain’s launch of a new 50-year government bond drew record demand, its debt agency said yesterday, prompting it to slightly increase its syndication programme for long-dated debt.

The UK Debt Management Office said it sold £4.75bn (€6.47bn) of the new 2.5% bond maturing in July 2065, via a syndication which drew orders worth £21.9bn.

That was well above a previous record order book of £16.5bn at a syndication of a 30-year bond in June 2014.