Issue of Debt

LONDON--()--

            DMO-TAS041/1692/008
         
 
 
Eastcheap Court

11 Philpot Lane

London

EC3M 8UD

T 020 7862 6500

F 020 7862 6509

 

www.dmo.gov.uk

 
 
 
 
 
 
A047¥15

 

14 May 2015

 

 

PRESS NOTICE

 
RESULT OF THE SALE BY AUCTION OF £3750 MILLION OF 2% TREASURY GILT 2020

 

The United Kingdom Debt Management Office ("DMO") announces that the auction of £3,750 million of 2% Treasury Gilt 2020 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 approximately 3.0% 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 £102.498 1.498%
 
 
Non-competitive allotment price

(i.e. the rounded average accepted price)

£102.485 1.500%
 
 
Lowest Accepted £102.470 1.503%
 
Tail in basis points 0.3*
 
3. The total amounts allotted and bids received were as follows:
Amount allotted to competitive bids

 

£3,395.340 million

Amount allotted to non-competitive bids
Gilt-edged market makers

 

£353.600 million

Others

 

£1.060 million

Total

 

£3,750.000 million

Total bids received

 

£5,615.846 million

Times covered

 

1.50 times

 
 
4. An additional amount of the Stock totalling up to £375 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: 465715
Time of Receipt (offset from UTC): 20150514T105951+0100

Contacts

UK Debt Management Office

Contacts

UK Debt Management Office