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LONDON - The UK Debt Management Office (DMO) has successfully completed the sale of £1.25 billion of 0⅛% Index-Linked Treasury Gilt 2031, with the auction drawing substantial investor interest. The issuance, which took place on Thursday, saw competitive bids that exceeded the striking price being accepted in full, while those below were rejected.
The striking price was set at £95.765, with an inflation-adjusted clean price of £128.908309 and a real yield of 0.827%. The DMO reported a robust demand for the gilt, with total bids reaching £3.208 billion, indicating a coverage ratio of 2.57 times the amount allotted.
The sale was just shy of the maximum target, with £1.249.999 million allocated to successful bids and a residual £0.001 million retained by the DMO. The newly issued gilt will increase the total amount in issue to £12,754.038 million nominal starting from May 30, 2025.
Investors who made successful bids will have the stock credited to their CREST accounts through member-to-member deliveries on the settlement date.
This tender result is based on a press release statement from the UK Debt Management Office.
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