---
source: UK Debt Management Office
url: https://www.dmo.gov.uk/media/5l0kkqqm/pr100326.pdf
document_type: pdf
date_retrieved: 2026-03-17
auction_date: 2026-03-17
settlement_date: 2026-03-18
parent_publication: Treasury Gilt Auction Announcement
indicators_covered: [5 Year Note Yield, Treasury Gilt 2031 Auction]
---

# Press Notice: Auction of British Government Stock

**Date:** 10 March 2026  
**DMO:** Debt Management Office, The Minster Building, 21 Mincing Lane, London EC3R 7AG

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## Auction Details

| Detail | Value |
|--------|-------|
| **Auction Date** | Tuesday, 17 March 2026 |
| **Issue and Settlement Date** | Wednesday, 18 March 2026 |
| **Bidding Convention** | Fully paid Bid Price |
| **Accrued Interest payable with bid** | £0.123301630435 per £100 nominal |
| **Auction Open** | 9:00am London Time |
| **Auction Close** | 10:00am London Time |
| **Post Auction Option Facility Open** | 12:30pm London Time |
| **Post Auction Option Facility Close** | 1:00pm London Time |

---

## Details of Security

**Title:** 4⅛% Treasury Gilt 2031

**Amount (nominal) for auction:** £4,000 million (fungible with previous issues)

**Nominal outstanding after auction:** £28,841.6 million

**Maturity Date:** 7 March 2031 at par

**Interest Payment Dates:** 7 March and 7 September

**ISIN Code:** GB00BVP99673

**SEDOL Code:** B-VP9-967

**Strippable:** No

**Interest Payable:** Gross

**Next Interest Payment Date:** 7 September 2026 (Standard Coupon)

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## Bidding Procedures

Bids may be made on either a competitive or a non-competitive basis. Details of the bidding procedures are set out in the prospectus and in the Information Memorandum. Gilt-edged Market Makers may bid by means of the Bloomberg Bond Auction System to the DMO not earlier than 9.00 am on Tuesday, 17 March 2026 and not later than 10.00 am on Tuesday, 17 March 2026.

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## Tax Treatment

Holders may elect to have United Kingdom income tax deducted from interest payments, should they so wish, on application to the Registrar, Computershare Investor Services PLC.

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## Post Auction Option Facility

Subject to the provisions of the Information Memorandum, this auction will be eligible for the Post Auction Option Facility of an additional amount of the Gilt equivalent to 25% of the nominal amount of the Gilt allocated at the auction. Details of the Post Auction Option Facility procedures are set out in the Information Memorandum as supplemented by the prospectus.

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## Stripping Status

The Gilt may not be stripped and reconstituted until so specified in a notice issued by the DMO.

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## Documentation

**Prospectus for auction of £4,000 million of 4⅛% Treasury Gilt 2031**  
Available on the DMO's Gilt Market Publications webpage at: https://www.dmo.gov.uk/publications/

**Information Memorandum relating to the Issue, Stripping and Reconstitution of British Government Stock**  
Document dated: 10 March 2026  
URL: https://www.dmo.gov.uk/media/zj2p0lab/infmemadd100326.pdf

**Formulae for Calculating Gilt Prices from Yields**  
Document dated: 18 December 2024  
URL: https://www.dmo.gov.uk/media/334d05fo/yldeqns_v4.pdf

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## Approved Group of Investors

Applications from Members of the Approved Group of Investors: For this auction applications may not be made by members of the Approved Group.

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## Gilt Sales Progress 2025-26

A table showing the progress of gilt sales in the current financial year is published in the 'Responsibilities – Financing Remit' section of the DMO website at: https://www.dmo.gov.uk/dmo_static_reports/currentremit.pdf.

The table is updated after the conclusion of every gilt sales operation.