UK DMO names bookrunners for new 40-year gilt syndication

LONDON (Reuters) - The United Kingdom Debt Management Office said on Friday that it had named Citi, HSBC, RBS unit NatWest Markets and Santander to act as joint bookrunners for the upcoming multi-billion pound syndication of a new bond with a maturity of around 40 years.

The syndication is the first of five this financial year which aim to raise a total 21 billion pounds, and will take place in the week starting May 13.

The DMO said it would set the bond's coupon in due course as well as the exact maturity of the bond, which will be in a range of 2054 to 2061.

(Reporting by David Milliken; editing by James Davey)