Issue of Debt

LONDON--()--

          DMO-TAS041/1891/004
           
 
 
Eastcheap Court

11 Philpot Lane

London

EC3M 8UD

T 020 7862 6500

F 020 7862 6509

 

www.dmo.gov.uk

 
 

 

19 October 2016
 
PRESS NOTICE
 
RESULT OF THE SALE BY AUCTION OF £2500 MILLION OF 1½% TREASURY GILT 2026

 

The United Kingdom Debt Management Office ("DMO") announces that the auction of £2,500 million of 1½% Treasury Gilt 2026 has been allocated as follows:

 

(Note: all prices in this notice are quoted in pounds and pence)

 
 
1. All bids which have been accepted at the lowest accepted price have been allotted 36.5420% of the amount bid for.
 
 
 
 
Competitive bids made at prices above the lowest accepted price have been allotted in full. Competitive bids made at prices below the lowest accepted price have been rejected.
 
 
 
Price Yield
2. The range of bids accepted was as follows:
 
Highest Accepted £103.931 1.074%
 
 
Non-competitive allotment price

(i.e. the rounded average accepted price)

£103.898 1.078%
 
 
Lowest Accepted £103.866 1.081%
 
Tail in basis points 0.3*
 
3. The total amounts allotted and bids received were as follows:
Amount allotted to competitive bids £2,125.542 million
Amount allotted to non-competitive bids
Gilt-edged market makers £374.400 million
Others £0.058 million
Total £2,500.000 million
Total bids received £5,015.458 million
Times covered 2.01 times
 
 
4. An additional amount of the Stock totalling up to £375.000 million will be made available to successful bidders for purchase at the non-competitive allotment price, in accordance with the terms of the Information Memorandum.
 
 
 
5. Cheques may be presented for payment. Refund cheques, where appropriate, will be sent as soon as possible by post. Stock allotted to members of CREST will be credited to their accounts by member-to-member deliveries on the relevant settlement date if they so requested.
 
 
 
*Tail is calculated as the yield at the lowest accepted price less the yield at the average accepted price

(using unrounded yields). This figure is then multiplied by 100 to convert it into basis points.

Short Name: UKDMO
Category Code: IOD
Sequence Number: 555967
Time of Receipt (offset from UTC): 20161019T104232+0100

Contacts

UK Debt Management Office

Contacts

UK Debt Management Office