Western Europe | Emerging Europe | Asia | Latin America | North America
Best sovereign bond issue
United Kingdom
Deal size: $3 billion
Date: June 2003
Joint bookrunners: Deutsche Bank, Citigroup, Goldman Sachs, Morgan Stanley The UK Treasury last entered the offshore capital markets in 1996. However, last year careful monitoring of the markets showed that there was a window to refinance foreign currency reserves more cheaply in the international markets than through gilts.
The Bank of England sought advice from lead managers with a good record.
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