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Issue of Debt

Business Wire
·2 min read

LONDON, December 06, 2022--(BUSINESS WIRE)--

DMO-TAS041/3005/003

The Minster Building
21 Mincing Lane
London
EC3R 7AG

T 020 7862 6500
F 020 7862 6509

www.dmo.gov.uk

A137\22

6 December 2022

PRESS NOTICE

RESULT OF THE SALE BY AUCTION OF £3250 MILLION OF 4⅛% TREASURY GILT 2027

The United Kingdom Debt Management Office ("DMO") announces that the auction of £3,250 million of 4⅛% Treasury Gilt 2027 (ISIN Code: GB00BL6C7720) 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 55.3333% 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

£102.532

3.464%

Non-competitive allotment price
(i.e. the rounded average accepted price)

£102.500

3.472%

Lowest Accepted

£102.480

3.477%

Tail in basis points

0.5*

3.

The total amounts allotted and bids received were as follows:

Amount allotted to competitive bids

£2,762.498 million

Amount allotted to non-competitive bids

Gilt-edged market makers

£487.500 million

Others

£0.002 million

Total

£3,250.000 million

Total bids received

£7,135.500 million

Times covered

2.20 times

4.

An additional amount of the Stock totalling up to £812.500 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.

Stock allotted to members of CREST will be credited to their accounts by member-to-member deliveries on the relevant settlement date.

*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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221206005567/en/

Contacts

UK Debt Management Office

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