Britain said on Friday it would launch a new 20-year government bond via an auction on Jan. 21, as part of an issuance programme for the first three months of 2020 that will also see a long-dated gilt syndication in February.

The UK Debt Management Office confirmed it would hold nine gilt auctions between January and March, six for conventional gilts - including the new October 2041 issue - and three for index-linked bonds, as well as the separate gilt syndication.

Earlier this month the DMO raised its gilt issuance target for the 2019/20 financial year by 5 billion pounds to 122.8 billion pounds ($157.6 billion), reflecting higher public borrowing since March.