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LONDON - The United Kingdom (TADAWUL:4280) Debt Management Office (DMO) has successfully auctioned £2.25 billion of 4⅜% Treasury Gilt due in 2054. The auction, which took place on Tuesday, resulted in competitive bids that exceeded the amount offered by 2.85 times, with a total of £6.402 billion in bids received.
The gilts were sold at prices ranging from £88.919 to £89.030, corresponding to yields from 5.107% to 5.099%. Bids accepted at the lowest price received 71.1956% of the amount they bid for, while those offering higher prices were allotted in full. Bids below the lowest accepted price were rejected.
In addition to the competitive bids, the DMO allotted £337.500 million to gilt-edged market makers and a nominal £0.002 million to others through non-competitive bids. The average price for these non-competitive allotments was set at £88.951.
Furthermore, the DMO announced that an additional amount of the stock, up to £562.500 million, will be available for purchase at the non-competitive allotment price by the successful bidders, as detailed in the Information Memorandum.
The newly issued gilts will be credited to the accounts of CREST members 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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