March 5, 2013 / 5:23 PM / in 5 years

Bank of England names banks to manage annual dollar bond

LONDON, March 5 (Reuters) - The Bank of England named Deutsche Bank, Goldman Sachs, HSBC and Royal Bank of Canada on Tuesday to lead manage its annual issuance of a U.S. dollar bond as part of its management of Britain’s foreign currency reserves.

Every year since 2007 the central bank has issued a three-year U.S. dollar bond with a size of around $2 billion.

“The 2013 operation will be a benchmark 3-year U.S. dollar bond, and the Bank expects to execute this transaction in the coming weeks, subject to market conditions,” the BoE said in a statement on its website.

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