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UK DMO to sell debt by tender on April 1 to help fund stimulus push

LONDON, March 27 (Reuters) - Britain's Debt Management Office said on Friday it would hold an additional sale of government bonds on April 1 as the government seeks to raise cash to fund its stimulus measures to soften the economic hit of the coronavirus spread.

"The tender will be conducted on a multiple price basis, with no non-competitive allowances or Post Auction Option Facility," the DMO said. "However, the size will be comparable to a gilt auction."

The DMO said it was seeking feedback on which gilt to sell at the tender by 1200 GMT on Friday and the choice would be announced at 1530 GMT. (Writing by William Schomberg; editing by Michael Holden)