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UK 2071 gilt syndication draws over 27 bln stg in orders

Reuters - UK Focus

LONDON, May 15 (Reuters) - Investors placed orders worth more than 27 billion pounds ($36.55 billion) at the launch of a new British government bond due to mature in October 2071, one of the bookrunners on the deal said on Tuesday.

The gilt, which carries a 1.625 percent coupon, is likely to be priced to yield up to 0.5 basis points less than the current longest-dated gilt, which matures in July 2068.

The syndication is led by Barclays (LSE: BARC.L - news) , Deutsche Bank (IOB: 0H7D.IL - news) , Goldman Sachs International and NatWest Markets as joint bookrunners.

Books are due to close at 0900 GMT, and pricing is expected late on Tuesday. ($1 = 0.7387 pounds) (Reporting by David Milliken; editing by Michael Holden)