LONDON (Reuters) – Britain sold 900 million pounds ($996.66 million) of an index-linked gilt due in 2051 with bids worth 2.75 times the amount on offer, but at a very cheap price.
The Debt Management Office said the 0.125% index-linked gilt sold with a yield – the return investors will receive on top of the rate of retail price inflation, currently 12.3% – of 1.551%, the highest since October 2008.
($1 = 0.9030 pounds)
(Reporting by Andy Bruce; Editing by William Schomberg)
