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LONDON - The UK Debt Management Office (DMO) announced an upcoming auction for £2.25 billion of the 4⅜% Treasury Gilt 2054, set to take place on Tuesday, April 8, 2025. The issue and settlement date for the gilt, which is a government bond, is scheduled for the following day, Wednesday, April 9, 2025.
The auction will open at 9:00 am London time and close at 10:00 am. A post-auction option facility will be available later in the day, from 12:30 pm until 1:00 pm, allowing for an additional amount of the gilt equivalent to 25% of the nominal amount allocated at the auction.
The gilt, with a maturity date of July 31, 2054, will increase the nominal outstanding amount to £31,158.4 million after the auction. Interest is paid semi-annually on January 31 and July 31, with the next payment due on July 31, 2025. This particular gilt is not strippable, meaning its coupon and principal cannot be separately traded.
Bidders have the option to submit their bids on a competitive or non-competitive basis, adhering to the procedures outlined in the prospectus and the Information Memorandum. Gilt-edged Market Makers can place their bids through the Bloomberg Bond Auction System.
This auction is part of the UK’s planned gilt sales for the fiscal year 2025-26, which total £299.2 billion across various maturities. The sales plan includes 72 auctions and syndication sales, with conventional gilts comprising the majority of the offerings.
Investors should note that applications from members of the Approved Group are not permitted for this auction. The DMO has made the prospectus and additional documentation related to the auction available on its website.
This information is based on a press release statement from the UK Debt Management Office.
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