60. The other reason for treating the issue as a Gilt would be the method of sale. It was hoped the GGBs could be sold by auction. This was also rejected by the market. As it was not possible to issue the GGBs as a quasi Gilt, it was issued as a Eurobond. Eurobonds are generally underwritten. However, Schroders rejected proposals for an underwritten issue and followed the book built route.