LONDON – The UK Debt Management Office (DMO) has successfully completed an auction of £4,250 million of 4⅜% Treasury Gilt 2028. The auction, which took place on Thursday, resulted in competitive bids totaling £13,597.5 million, which covers the money offered at 3.20 times 3.20 times. .
The highest accepted price for the gilt was £99.990 with a corresponding yield of 4.378%, while the lowest accepted price was £99.967, yielding 4.386%. The uncontested share price, which represents the agreed turnover price, is set at £99.974 with a yield of 4.384%.
Bidders who submitted competitive bids at the lowest accepted price were awarded 90.5099% of the amount they bid for, while those who bid above the lowest accepted price received the full share. Any bids below the lowest price accepted are rejected.
In addition, the DMO announced that an additional amount of stock, up to £ 1,062.5 million, will be available for purchase at a non-competitive price of the share by the successful applicants, in accordance with the terms set out in the Information Memorandum.
CREST members who have been granted stock will have their accounts credited on the settlement date by delivery of the stock to the members.
This information is based on a press release from the UK's Debt Office.
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