UK Expects Net Financing Requirement to be GBP265.3 Billion in Fiscal 2025

Miriam Mukuru

The U.K. Debt Management Office's net financing requirement is forecast to be 265.3 billion pounds ($337.09 billion) in 2024-25 fiscal year, to be financed by GBP265.3 billion outright gilt sales, it said on Wednesday.

The DMO's financing remit has been published as part of the budget announcements.

Planned gilt sales of GBP265.3 billion will be met through GBP224.3 billion of issuance in 73 auctions, approximately GBP31.0 billion via syndications and GBP 10 billion from an initially unallocated portion of issuance, the DMO said.

Gilt sales will include GBP10 billion in green gilt issuance.

The DMO plans 73 auctions: GBP 95.3 billion via short-term conventional gilts in 22 auctions; GBP73.6 billion via medium-term conventional gilts in 20 auctions; GBP35.5 billion in long-term conventional gilts in 16 auctions and GBP19.9 billion in index-linked gilts in 15 transactions, it said.

The DMO plans seven syndicated transactions, of which GBP22 billion of conventional gilts in four transactions and GBP9 billion of index-linked gilts in three transactions.

Write to Miriam Mukuru at [e-mail]

(END) Dow Jones Newswires

03-06-24 1002ET