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#2: Today also sees the........>

GILT AUCTION PREVIEW
GILT AUCTION PREVIEW: #2: Today also sees the first index-linked issuance of the
fiscal year with GBP1.2bln nominal of the benchmark 10-year linker on offer -
the 0.125% Aug-28 I/L gilt.
- The issue was launched in June 2018 and has been auctioned generally every 2-3
months since. All auctions have seen bid-to-covers of over 2x with the previous
three auctions all above 2.5x. The last auction was on 6 March 2020.
RESULTS: Auction results will be released shortly after the auction closes at
11:30BST with a further GBP375mln available through the PAOF to successful
bidders.

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