Issue of Debt

LONDON--(BUSINESS WIRE)-- 

	Minster Court 21 Mincing Lane London EC3R 7AG	T 020 7862 6500     www.dmo.gov.uk       20 May 2025
PRESS NOTICE

SYNDICATED LAUNCH OF £4.0 BILLION OF 5⅜% TREASURY GILT 2056: RESULT

The United Kingdom Debt Management Office (DMO) announces that the syndicated launch of £4.0 billion (nominal) of 5⅜% Treasury Gilt 2056 has been priced at £99.566 per £100 nominal, equating to a gross redemption yield of 5.4047%. The transaction will settle, and the initial tranche of this gilt will be issued, on 21 May 2025.

Today’s transaction represents the first of eight syndications planned in the DMO’s programme for 2025-26. Proceeds from today’s sale are expected to amount to approximately £4.0 billion (cash).

The UK domestic market provided the main support for the issue, taking around 77% of the allocation.

Commenting on the result, Jessica Pulay, Chief Executive Officer of the DMO, said:

“Today marked the start of our syndication programme for 2025-26 with a successful launch of a new 30-year maturity conventional gilt.

I am very pleased that the transaction was both well-received by the market and efficiently executed, following extensive market feedback including around optimal sizing. The new 2056 maturity gilt attracted strong interest from a variety of high-quality accounts and will serve as a new benchmark for that sector going forward.

This morning’s offering provides a further demonstration of the ongoing strength and depth of the gilt market and the valuable support from its participants for our financing programme. I am grateful to the five Joint Lead Managers for ensuring the success of today’s sale and to the Co-Lead Manager group for their ongoing commitment.

I look forward to the continuing support of gilt market participants as we progress with the delivery of our financing remit for 2025-26.”