UK DMO ups 2014/15 gilt syndication target after strong demand
LONDON, Oct 28 (Reuters) - Britain's Debt Management Office said on Tuesday it would sell an extra 500 million pounds ($809 million) of conventional gilts via syndication this financial year following strong demand at the syndication of the 2068 gilt .
The DMO said it now intends to sell 18.5 billion pounds of conventional gilts via syndication during the 2014/15 financial year, up from an earlier target of 18.0 billion pounds.
It said it would correspondingly cut the amount it plans to sell by mini-tenders by 500 million pounds to 3.5 billion pounds.
The DMO has sold 15 billion pounds of gilts via syndication since the start of the financial year in April, including 4.0 billion pounds of the 2068 gilt earlier on Tuesday.
It said domestic investors accounted for around 96 percent of the sale. (1 US dollar = 0.6184 British pound) (Reporting by Andy Bruce, editing by David Milliken)