LONDON – The UK Debt Management Office (DMO) has successfully completed the £4,250m 4⅜% Treasury Gilt 2028 auction. The auction, which took place on Thursday, resulted in competitive bids totaling £13,597.5m, covering the bid amount of 3, 20 times.
The highest accepted price for gilding was £99,990 with a corresponding yield of 4.378%, while the lowest accepted price was £99,967, with a corresponding yield of 4.386%. The non-competitive award price, representing 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 awarded 90.5099% of the amount they bid for, while those who bid above the lowest accepted price were awarded the full amount. All offers below the lowest accepted price are rejected.
In addition, DMO has announced that an additional amount of shares, up to £1,062.5 million, will be available for purchase at a non-competitive price by successful bidders, subject to the terms set out in the Information Memorandum.
CREST members who have been allocated shares will be credited to accounts on the settlement date via member-to-member deliveries.
This information is based on a UK Debt Management Office press release.
This article was generated with the help of AI and reviewed by an editor. See our T&C for more information.
