UK Debt Management Office UK Regulatory Announcement: Issue of Debt

LONDON–(BUSINESS WIRE)– 

SYNDICATED RE-OPENING OF £4.5 BILLION OF 1½% GREEN GILT 2053: RESULT

The United Kingdom Debt Management Office (DMO) announces that the syndicated re-opening of £4.5 billion (nominal) of 1½% Green Gilt 2053 has been priced at £52.447 per £100 nominal, equating to a gross redemption yield of 4.2947%. The transaction will settle, and the second tranche of this gilt will be issued, on 29 September 2022.

Proceeds from today’s transaction are expected to amount to approximately £2.4 billion (cash¹) and will take syndication proceeds this financial year to £10.0 billion. This represents the third transaction of the DMO’s 2022-23 syndication programme, which is planned to raise £25.5 billion (£18.0 billion via issuance of long conventional gilts in four transactions and £7.5 billion via issuance of index-linked gilts in two transactions). The transaction also takes green gilt sales in 2022-23 to £4.4 billion relative to the remit plan of £10.0 billion.

The UK domestic market provided the main support for the issue, taking around 93% of the allocation.

NOTES TO EDITORS

The syndicated offering was lead managed by five Joint Bookrunners: Barclays, BNP Paribas, HSBC, J.P. Morgan and UBS Investment Bank. All other wholesale Gilt-edged Market Makers were appointed Co-Lead Managers. The composition of the syndicate was announced by the DMO on 9 September 2022.

Proceeds from the transaction amount to approximately £2.4 billion and will take long conventional gilt sales for the financial year to date to £16.1 billion. Total gilt sales for the financial year to date now amount to £63.1 billion, relative to the newly increased overall remit target of £193.9 billion.

This press notice will be appearing on the DMO’s website at: www.dmo.gov.uk

¹ Figures in this press notice are in cash terms unless indicated otherwise.