REG-UK Debt Management Office Issue of Debt
12/07/2023 15:45
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Issue of Debt
The Minster Building Tel 020 7862 6500
21 Mincing Lane
London
EC3R 7AG
www.dmo.gov.uk
(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.dmo.gov.uk&esheet=53451188&newsitemid=20230712001236&lan=en-US&anchor=www.dmo.gov.uk&index=1&md5=15f72df8194238d42620cbf43c901333)
12 July 2023
PRESS NOTICE
AUCTION OF BRITISH GOVERNMENT STOCK
Auction Details
Auction Date Wednesday, 19 July 2023
Issue and Settlement Date Thursday, 20 July 2023
Bidding Convention Fully paid Bid Price (see Note 1)
Accrued Interest payable with bid £0.356557377049 per £100 nominal
Auction Open 10:30am London Time
Auction Close 11:30am London Time
Post Auction Option Facility Open 2:00pm London Time
Post Auction Option Facility Close 2:30pm London Time
Details of Security
Title 4½% Treasury Gilt 2028
Amount (nominal) for auction £3,750 million (fungible with previous issue) (see Note 3)
Nominal outstanding after auction £8,437.5 million
Maturity Date 7 June 2028 at par
Interest Payment Dates 7 June and 7 December
ISIN Code GB00BMF9LG83
SEDOL Code B-MF9-LG8
Strippable No (see Note 4)
Interest Payable Gross (see Note 2)
Next Interest Payment Date 7 December 2023 - £2.077869 per £100 nominal
(Short First Coupon)
Note 1: Bids may be made on either a competitive or a non‑competitive basis.
Details of the bidding procedures are set out in the prospectus and in the
Information Memorandum. Gilt‑edged Market Makers may bid by means of the
Bloomberg Bond Auction System to the DMO not earlier than 10.30 am on
Wednesday, 19 July 2023 and not later than 11.30 am on Wednesday, 19 July
2023.
Note 2: Holders may elect to have United Kingdom income tax deducted from
interest payments, should they so wish, on application to the Registrar,
Computershare Investor Services PLC.
Note 3: Subject to the provisions of the Information Memorandum, this auction
will be eligible for the Post Auction Option Facility of an additional amount
of the Gilt equivalent to 25% of the nominal amount of the Gilt allocated at
the auction. Details of the Post Auction Option Facility procedures are set
out in the Information Memorandum as supplemented by the prospectus.
Note 4: The Gilt may not be stripped and reconstituted until so specified in a
notice issued by the DMO.
Documentation
Prospectus for auction of £3,750 million of 4½% Treasury Gilt 2028 Available on the DMO’s Gilt Market Publications webpage at:
https://www.dmo.gov.uk/publications/
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.dmo.gov.uk%2Fpublications%2F&esheet=53451188&newsitemid=20230712001236&lan=en-US&anchor=https%3A%2F%2Fwww.dmo.gov.uk%2Fpublications%2F&index=2&md5=38e74811cc1a6d31857bc2beef9fecc9)
DMO : 12 July 2023
Information Memorandum relating to the Issue, Stripping and Reconstitution of https://www.dmo.gov.uk/media/hein4pwn/infmemadd140921.pdf
British Government Stock (https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.dmo.gov.uk%2Fmedia%2F17691%2Finfmemadd140921.pdf&esheet=53451188&newsitemid=20230712001236&lan=en-US&anchor=https%3A%2F%2Fwww.dmo.gov.uk%2Fmedia%2Fhein4pwn%2Finfmemadd140921.pdf&index=3&md5=d314185af4095b762b47a31c12c9535f)
DMO : 14 September 2021
Formulae for Calculating Gilt Prices from Yields https://www.dmo.gov.uk/media/1sljygul/yldeqns.pdf
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.dmo.gov.uk%2Fmedia%2F1sljygul%2Fyldeqns.pdf&esheet=53451188&newsitemid=20230712001236&lan=en-US&anchor=https%3A%2F%2Fwww.dmo.gov.uk%2Fmedia%2F1sljygul%2Fyldeqns.pdf&index=4&md5=0cd35a2ea475c158c3ff5991cc101f99)
DMO : 16 March 2005
Applications from Members of the Approved Group of Investors
For this auction applications may not be made by members of the Approved
Group.
Gilt sales in 2023-24
A table showing the progress of gilt sales in the current financial year is
published in the ‘Responsibilities – Financing Remit’ section of the DMO
website at: https://www.dmo.gov.uk/dmo_static_reports/currentremit.pdf
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.dmo.gov.uk%2Fdmo_static_reports%2Fcurrentremit.pdf&esheet=53451188&newsitemid=20230712001236&lan=en-US&anchor=https%3A%2F%2Fwww.dmo.gov.uk%2Fdmo_static_reports%2Fcurrentremit.pdf&index=5&md5=fcf128e33ac4653c63fd51e82dc42eba)
. The table is updated after the conclusion of every gilt sales operation.
View source version on businesswire.com:
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UK Debt Management Office
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