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LONDON - The UK Debt Management Office (DMO) announced Wednesday it will auction £3 billion of 4⅜% Treasury Gilt 2040 on July 23, with settlement scheduled for July 24.
The upcoming auction will increase the total nominal outstanding amount of this particular gilt to £30.36 billion, according to the press release statement. The maturity date for the security is set for January 31, 2040.
Bidding will open at 9:00 am London time and close at 10:00 am on the auction date. Following the main auction, a Post Auction Option Facility will be available between 12:30 pm and 1:00 pm, allowing for additional allocation of up to 25% of the nominal amount allocated at the auction.
The Treasury Gilt offers interest payment dates on January 31 and July 31, with the next receivable interest payment date scheduled for January 31, 2026. The security carries an ISIN code of GB00BQC82D08 and is not currently strippable.
Bids may be submitted on either a competitive or non-competitive basis. Gilt-edged Market Makers can place bids through the Bloomberg Bond Auction System during the specified auction window.
The DMO noted that for this particular auction, applications will not be accepted from members of the Approved Group of Investors.
Information regarding the progress of gilt sales in the current financial year is available on the DMO website, which is updated following each gilt sales operation.
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