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#2: 0.625% Oct-50 gilt

  • The 0.625% Oct-50 gilt will also be on offer today.
  • This will be the third auction of the gilt after its syndicated launch in June and like the 0.125% Jan-23 gilt auction earlier in the day sees a smaller auction size of GBP2.00bln compared to the other auctions of GBP2.25bln.
  • Demand was very strong at launch with GBP9.0bln sold via syndication, but the auctions since have not been particularly strong, seeing bid-to-cover ratios of 1.68x and 1.78x respectively and tails of 1.1bp and 1.2bp.
  • The gilt will be on offer again in each of September, October and November.
  • RESULTS: Results will be announced shortly after the auction closes at 11:30BST with a further GBP500mln available to successful bidders via the PAOF.
MNI London Bureau | +44 203-865-3820 |
MNI London Bureau | +44 203-865-3820 |

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