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 13,597.5 million pounds, covering 3.20 times the bid amount. .
The highest accepted price for a gilt was £99,990, a corresponding yield of 4.378%, and the lowest price was £99,967, a yield of 4.386%. The non-competitive allocation price, representing the rounded average price received, was set at £99,974 with a yield of £4,384%.
Bidders who submitted the lowest competitive bids were awarded 90.5099% of their bids, while those who submitted the lowest accepted bids received the full allocation. Any offer of the lowest price accepted will be rejected.
In addition, the DMO has announced that an additional number of shares, up to £1,062.5 million, will be available for purchase by successful bidders at a non-competitive allotment price subject to the terms set out in the information memorandum.
CREST members who have been allotted shares will have their accounts registered on the settlement date through member-to-member delivery.
This information is based on a press release from the UK Debt Management Office.
This article was created with the support of artificial intelligence and reviewed by an editor. See our T&C for more information.