By Miriam Mukuru

The U.K. Debt Management Office issued GBP6 billion ($7.63 billion) in a 4.375% July 2054 gilt via a syndication on Tuesday.

The sale was priced at GBP96.808 per GBP100 nominal, equating to a gross redemption yield of 4.5699%, the DMO said.

Proceeds from the sale are expected to reach approximately GBP5.8 billion. Total orders were GBP77.8 billion nominal.

U.K. domestic investors dominated the market, taking 87% of the allocations.

The final syndication in the DMO's program for 2023-24 is scheduled to be for an index-linked gilt in March 2024, subject to demand and market conditions, the DMO said.

Write to Miriam Mukuru at miriam.mukuru@wsj.com

(END) Dow Jones Newswires

January 23, 2024 12:19 ET (17:19 GMT)