LONDON--(BUSINESS WIRE)--
DMO SCREEN ANNOUNCEMENT
GILT TENDER FOR UP TO £2,000 MILLION (NOMINAL) OF 0⅛% TREASURY GILT 2026 ON 21 NOVEMBER 2024
The UK Debt Management Office (DMO) announces plans to conduct a sale by gilt tender of up to £2,000 million (nominal) of 0⅛% Treasury Gilt 2026 (ISIN code GB00BL68HJ26) on 21 November 2024.
Details of this gilt tender are as follows:
- It will be conducted on a multiple price basis (to three decimal places);
- There will be no non-competitive bidding allowances or post-auction option facility;
- Confirmatory invitations will be sent to authorised bidders at 8.45am (London time) ahead of the opening of the bidding window at 9.00am (London time);
- GEMM firms may each submit an unlimited number of bids via Bloomberg Auction System, either for their own account or on behalf of customers, in multiples of round £ millions (nominal);
- Bidding will close at 10.00am (London time) precisely on the gilt tender date;
- There shall be no individual maximum allocation limits for GEMMs or investors; however, all bids are accepted at the DMO's discretion. The DMO also reserves the right not to accept bids deemed to be at an unacceptable discount to the prevailing secondary market price. Any unallocated residual amount will not be issued.
The results of this gilt tender will be announced on the DMO's wire services pages and website www.dmo.gov.uk as soon as practicable after the bidding deadline on Thursday 21 November 2024. Settlement will take place on the following day, Friday 22 November 2024, and the DMO's standard settlement arrangements will apply.
The cash proceeds from this gilt tender will represent a partial draw-down of the unallocated portion of gilt issuance for 2024-25, which currently stands at £8.5 billion.
19 November 2024