LONDON – The UK Debt Management Office (DMO) has successfully completed the auction of £4,250 million of 4⅜% Treasury Gilt 2028. The auction, which took place on Thursday, resulted in competitive bids totaling £13,597.5 million, covering the amount offered 3.20 times.
The highest accepted price for the gilt was £99.990 with a corresponding yield of 4.378%, while the lowest price accepted was £99.967, yielding 4.386%. The non-competitive allotment price, which represents the rounded average accepted price, was set at £99.974 with a yield of 4.384%.
Bidders who submitted competitive bids at the lowest accepted price were allotted 90.5099% of the amount they bid for, while those who bid above the lowest accepted price received full allotment. Any bids below the lowest accepted price were rejected.
Additionally, the DMO has announced that an extra amount of the stock, up to £1,062.5 million, will be available for purchase at the non-competitive allotment price by successful bidders, in line with the terms outlined in the Information Memorandum.
Members of CREST who have been allotted stock will have their accounts credited on the settlement date through member-to-member deliveries.
This information is based on a press release statement from the UK Debt Management Office.
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