The FINANCIAL — The Bank of England is to price its $2 billion, three-year bond at nine basis points under midswaps, one of the banks running the deal said Monday.
According to Borsa Italiana – London Stock Exchange Group, this is at the tighter end of initial price guidance which was at seven to nine basis points under midswaps.
Books are in excess of $4 billion.
Bank of America Merrill Lynch, Goldman Sachs Group Inc., HSBC Holdings PLC and Morgan Stanley are lead managers on the deal, which will be used to finance the bank's foreign exchange reserves.
The issuer is rated triple-A by all three ratings companies.
The Bank of England last sold debt via syndication in a $2 billion, three-year deal last February. The bond priced at one basis point under midswaps.
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