LONDON - The UK Debt Management Office (DMO) announced an upcoming auction for £2.25 billion of 4⅜% Treasury Gilt 2054, set to take place on Tuesday, December 3, 2024. The issue and settlement date for the gilt is scheduled for the following day, Wednesday, December 4.
This auction will increase the nominal outstanding amount of the gilt to £23,266.5 million. The gilt, with a maturity date of July 31, 2054, has interest payment dates on January 31 and July 31 annually. The next interest payment will be due on January 31, 2025.
Bidders can submit their bids starting at 9:00 am London time until the auction closes at 10:00 am on the auction date. A post-auction option facility will be available between 12:30 pm and 1:00 pm, allowing the purchase of an additional amount of the gilt up to 25% of the nominal amount allocated at the auction.
The ISIN code for the gilt is GB00BPSNBB36, and it is not eligible for stripping and reconstitution until specified by the DMO. The DMO has also clarified that the gilt sales for the financial year 2024-25 are updated after each sales operation and can be reviewed in the 'Responsibilities – Financing Remit' section of the DMO website.
The auction will not be open to members of the Approved Group of investors. Interested parties can find the prospectus for the auction on the DMO's Gilt Market Publications webpage, as well as the Information Memorandum related to the issue, stripping, and reconstitution of British Government Stock.
This announcement is based on a press release statement from the UK Debt Management Office.
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