U.S. inflation data ahead; Trump nominates new BLS head - what’s moving markets
LONDON - The UK Debt Management Office announced Wednesday it will auction £5 billion of 4⅜% Treasury Gilt 2028 on July 2, with settlement scheduled for July 3.
The auction will increase the total nominal outstanding of this security to £35.74 billion, according to a press release statement from the DMO.
The gilt matures on March 7, 2028, with interest payments occurring semi-annually on March 7 and September 7. The next interest payment is due on September 7, 2025.
Bidding will open at 9:00 am London time and close at 10:00 am on the auction date. Bids may be submitted on either a competitive or non-competitive basis through the Bloomberg Bond Auction System. The bidding convention will be fully paid bid price, with accrued interest of £1.40 per £100 nominal payable with bids.
Following the main auction, a Post Auction Option Facility will be available from 12:30 pm to 1:00 pm, offering an additional amount equivalent to 25% of the nominal amount allocated at the auction.
The security carries the ISIN code GB00BSQNRC93 and is not currently strippable. Interest payments will be made gross, though holders may elect to have United Kingdom (TADAWUL:4280) income tax deducted from interest payments by application to the Registrar.
For this auction, applications will not be accepted from 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.