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#1: GBP3.00bln of the 2.75%....>

GILT AUCTION PREVIEW
GILT AUCTION PREVIEW: #1: GBP3.00bln of the 2.75% Sep-24 will be sold in the
first gilt auction this morning.
- This is the first auction of the issue for a number of years although we note
that every short-dated auction so far this fiscal year has been very successful
with bid-to-covers of 2.4-2.8x.
RESULTS: Auction results will be released shortly after the auction closes at
10:00BST with a further GBP750mln available through the PAOF to successful
bidders.

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