Gilts

UK central government debt. It may be dated (redeemable) or undated.

Undated gilts are perpetual debt, paying a fixed periodic coupon but having no final redemption date. Gilt yields are conventionally quoted in the UK markets on a semi-annual basis.

Also known as Gilt-edged securities.

See also

• Bond
• Exempt gain
• Risk free rate of return
• Semi-annual rate