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LONDON - The United Kingdom Debt Management Office (DMO) announced on Thursday that it has successfully auctioned £800 million of 0 5/8% Index-linked Treasury Gilt 2045.
The auction saw strong demand with total bids reaching £3,131 million, making the offering 3.91 times oversubscribed. The striking price was set at £72.277 (real clean price), with an inflation-adjusted clean price of £80.377083, yielding a real yield of 2.412%.
Bids accepted at the striking price were allotted 76.6666% of the amount bid for, while competitive bids made at prices above the striking price were allotted in full. Bids below the striking price were rejected.
Of the total amount, £679.999 million was allotted to competitive bids, while £120.000 million went to Gilt-edged Market Makers through non-competitive bids. A nominal £0.001 million was allotted to other non-competitive bidders.
The DMO also stated that an additional amount of the stock totaling up to £200.000 million will be made available to successful bidders for purchase at the non-competitive allotment price, according to the terms outlined in the Information Memorandum.
Stock allotted to members of CREST will be credited to their accounts by member-to-member deliveries on the relevant settlement date.
The inflation-adjusted clean price was calculated using an index ratio of 1.11207, according to the press release statement.
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