UK to auction £4.25 billion Treasury Gilt on June 11

LONDON - The UK Debt Management Office (DMO) announced it will auction £4.25 billion of the 4½% Treasury Gilt 2035 on Wednesday, June 11, 2025, with the settlement to take place the following day. This issuance is part of the government’s ongoing efforts to manage the national debt.

The auction will open at 9:00 am and close at 10:00 am London time. Additionally, a Post Auction Option Facility will be available from 12:30 pm until 1:00 pm, allowing for the purchase of up to an additional 25% of the nominal amount initially allocated.

Investors will pay accrued interest of £1.472052906558 per £100 nominal upon submitting their bids. The Gilt, which has a maturity date of March 7, 2035, will make its next interest payment on September 7, 2025, at a rate of £2.535912 per £100 nominal.

The DMO has clarified that bids can be made on a competitive or non-competitive basis, as detailed in the Information Memorandum and the prospectus. The Gilt in question, identified by ISIN Code GB00BT7J0027 and SEDOL Code B-T7J-002, is not strippable, meaning it cannot be broken down into its individual interest and principal components.

After the auction, the nominal outstanding amount of the 4½% Treasury Gilt 2035 will reach £30,365.4 million. The DMO has made the auction prospectus available on its website, along with additional documents including the Information Memorandum and the formulae for calculating gilt prices from yields.

This auction is part of the DMO’s scheduled gilt sales for the financial year 2025-26, aimed at financing the government’s borrowing needs. The progress of gilt sales is tracked and updated on the DMO website following each sales operation.

The information for this announcement is based on a press release statement from the UK Debt Management Office.

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