UK sells £1.25 billion of treasury gilts maturing in 2029

On Monday, the United Kingdom Debt Management Office successfully sold £1.25 billion worth of 0½% Treasury Gilt maturing in 2029, as reported in a press release. The auction received total bids amounting to £4.56 billion, resulting in a coverage ratio of 3.65 times the offered amount. The Treasury Gilt bears the ISIN code GB00BLPK7227.

Bid prices ranged from a highest bid of £90.435, offering a yield of 4.815%, to a lowest accepted bid of £90.419, yielding 4.822%. The average accepted bid price was £90.427, corresponding to a yield of 4.818%. The spread between the lowest and average accepted yields was a mere 0.4 basis points. Competitive bids at the lowest accepted price accounted for 61.4285% of the requested amount.

Bids exceeding the lowest accepted price were fulfilled entirely, while those below were rejected. The Debt Management Office allocated £1,249.999 million to competitive bids, retaining only £0.001 million as a residual. The outstanding stock allocated to CREST members will be credited to their accounts via member-to-member transfers on the settlement date.

Upon settlement on September 16, 2026, the total remaining nominal amount for this Treasury Gilt will be £33,597.495 million. This article was produced with the assistance of AI and subsequently reviewed by an editor.