UK plans £4bn gilt auction for 2036 maturity
Debt management office announces auction of long-dated gilts as part of quarterly financing remit.
The UK Debt Management Office (DMO) said it will auction £4 billion in Treasury gilts maturing in 2036 as part of its quarterly financing remit.
The auction, scheduled for June 12, aims to meet the government’s funding requirements while managing the maturity profile of outstanding debt. The gilts, with a 12-year tenor, will be issued via a uniform price auction, a standard method for long-dated UK government bonds.
The DMO’s decision reflects its ongoing strategy to balance borrowing needs with market demand for sterling-denominated debt. The auction follows recent issuance patterns, including sales of shorter-dated gilts and index-linked securities.
Investors will submit bids by 11:00 BST on the auction date, with results published shortly after. The proceeds will contribute to the UK’s total gilt issuance target for the fiscal year, which remains unchanged at £242 billion.
Analysts noted that demand for long-dated gilts has remained robust amid expectations of stable monetary policy from the Bank of England. The auction’s size aligns with recent issuance trends for similar maturities.
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