Issue of Debt

LONDON--()--

DMO-TAS041/2108/003

Eastcheap Court  
11 Philpot Lane T 020 7862 6500
London F 020 7862 6509
EC3M 8UD

www.dmo.gov.uk

A049\18 9 May 2018

PRESS NOTICE

RESULT OF THE SALE BY AUCTION OF £2750 MILLION OF 1⅝% TREASURY GILT 2028

The United Kingdom Debt Management Office ("DMO") announces that the auction of £2,750 million of 1⅝% Treasury Gilt 2028 (ISIN Code: GB00BFX0ZL78) 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 48.9410% 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.

2. The range of bids accepted was as follows        
Price Yield
Highest Accepted £100.167 1.607%
Non-competitive allotment price £100.141 1.610%
(i.e. the rounded average accepted price)
 
Lowest Accepted £100.127 1.612%
Tail in basis points

 

0.1*

 
3. The total amounts allotted and bids received were as follows:
Amount allotted to competitive bids

 

£2,337.142 million

 
Amount allotted to non competitive bids
Gilt edged market makers

£412.800 million

Others £0.058 million
 
Total £2,750.000 million
Total bids received £6,051.857 million
Times covered 2.20 times

4. An additional amount of the Stock totalling up to £412.500 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: 647012
Time of Receipt (offset from UTC): 20180509T104712+0100

Contacts

UK Debt Management Office

Contacts

UK Debt Management Office