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LONDON - The UK Debt Management Office (DMO) announced Thursday it will auction £4.75 billion of 4⅜% Treasury Gilt 2030 on July 17, with settlement scheduled for the following day.
The auction will open at 9:00 am London time and close at 10:00 am, according to the press release statement. The security will be fungible with previous issues, bringing the total nominal outstanding after the auction to £34.57 billion.
The Treasury Gilt carries a maturity date of March 7, 2030, with interest payment dates on March 7 and September 7. The next interest payment is scheduled for September 7, 2025, at £2.876381 per £100 nominal.
Gilt-edged Market Makers may submit bids through the Bloomberg Bond Auction System during the auction window. The auction will feature a Post Auction Option Facility that allows for an additional amount of the Gilt equivalent to 25% of the nominal amount allocated at the auction.
The security carries an ISIN code of GB00BSQNRD01 and is not currently strippable, according to the announcement.
The DMO noted that for this particular auction, applications may not be made by members of the Approved Group of Investors. Interested parties can find the full prospectus and additional documentation on the DMO’s Gilt Market Publications webpage.
The UK government regularly conducts gilt auctions as part of its debt management operations to fund government spending.
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