By Laura Contemori – ROME (Econostream) – The UK Debt Management Office (DMO) on Friday announced plans to conduct two programmatic gilt tenders on May 28, 2026 for a combined amount of up to £2 billion.

The DMO said it will sell up to £1 billion of 0⅜% Treasury Gilt 2030 and up to £1 billion of 1⅛% Treasury Gilt 2039.

The operations will be conducted on a multiple-price basis through the Bloomberg Auction System and will be open exclusively to Gilt-edged Market Makers (GEMMs).

The DMO said there will be no non-competitive bidding allowance or post-auction option facility for either operation. The maximum allocation for any single bidder will be capped at 40% of the nominal amount offered in each tender.

The cash proceeds from the tenders will represent a partial drawdown of the unallocated portion of the UK’s 2026-27 gilt issuance program.

Settlement was scheduled for May 29, 2026.