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UK Treasury to auction £4.5 billion of 4½% Treasury Gilt 2035

Published 02/07/2025, 16:06
UK Treasury to auction £4.5 billion of 4½% Treasury Gilt 2035

LONDON - The UK Debt Management Office announced on Wednesday it will auction £4.5 billion of 4½% Treasury Gilt 2035 next week, according to a press release statement.

The auction will take place on Wednesday, July 9, with settlement scheduled for the following day. The gilts will mature on March 7, 2035.

This issuance will be fungible with previous issues, bringing the total nominal outstanding amount to £34.87 billion after the auction. The gilts will pay interest semi-annually on March 7 and September 7, with the next interest payment of £2.54 per £100 nominal due on September 7, 2025.

The auction will open at 9:00 a.m. London time and close at 10:00 a.m. Gilt-edged Market Makers may submit bids through the Bloomberg Bond Auction System during this period.

Following the main auction, a Post Auction Option Facility will be available from 12:30 p.m. to 1:00 p.m., allowing for an additional amount of gilt equivalent to 25% of the nominal amount allocated at the auction.

The DMO specified that the gilt is not currently strippable, meaning it cannot be separated into its principal and interest components. The auction will use a fully paid bid price convention, with accrued interest of £1.81 per £100 nominal payable with bids.

For this particular auction, the DMO noted that applications may not be made by members of the Approved Group of Investors.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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