By Laura Contemori – LONDON (Econostream) – The UK Debt Management Office (DMO) on Wednesday sold £4 billion of 4⅛% Treasury Gilt 2033.

The DMO said total bids reached £13.537 billion, with a bid-to-cover ratio of 3.38.

The gilt was allotted at a non-competitive allotment price of £97.537, corresponding to a yield of 4.550%. The lowest accepted price was £97.523, equivalent to a yield of 4.553%, while the highest accepted price stood at £97.559, with a yield of 4.547%. The tail was 0.2bp.

An additional £1 billion of stock will be made available to successful bidders for purchase at the non-competitive allotment price, the DMO said.