UK DMO sells £3.25B of 4.625% Green Gilt 2037 at auction

Key facts

• UK DMO sold £3.25 billion of 4⅝% Green Gilt 2037.
• Total bids received were £11.794 billion.
• The bid-to-cover ratio was 3.63.
• The average accepted price was £97.105.
• The average accepted yield was 4.975%.

The UK Debt Management Office (DMO) regularly auctions government bonds, known as Gilts, to finance government spending. Green Gilts are a specific type of bond issued to fund environmentally beneficial projects, attracting investors interested in sustainable finance. The success of these auctions, indicated by bid-to-cover ratios and yields, provides insights into market demand for UK sovereign debt and the cost of government borrowing.