TPI Composites files for Chapter 11 bankruptcy, plans delisting from Nasdaq
LONDON - The United Kingdom (TADAWUL:4280) Debt Management Office (DMO) conducted an auction of £900 million of 1⅞% Index-linked Treasury Gilt 2049 on Tuesday, with the sale attracting bids totaling £3.05 billion.
The auction was 3.39 times oversubscribed, according to a press release statement from the DMO. The striking price was set at £91.090 in real terms, equivalent to an inflation-adjusted clean price of £93.512083, yielding 2.360% in real terms.
Competitive bids made above the striking price were allotted in full, while those at the striking price received 30% of the amount bid for. Bids below the striking price were rejected.
Of the total amount, £765 million was allotted to competitive bids, while £135 million was allocated to Gilt-edged Market Makers through non-competitive bids. No allocations were made to other non-competitive bidders.
The DMO also announced that an additional amount of up to £225 million of the stock will be made available to successful bidders for purchase at the non-competitive allotment price, as outlined in the Information Memorandum.
The index-linked gilt, which matures in 2049, carries a coupon rate of 1⅞% and has the ISIN code GB00BT7J0134. The inflation-adjusted clean price was calculated using an index ratio of 1.02659.
Stock allotted to members of CREST will be credited to their accounts through member-to-member deliveries on the relevant settlement date.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.