Reserve Bank of India repurchases Rs. 18.3 billion government bonds

By Richard Connell

New York, June 4 - The Reserve Bank of India bought back Rs. 18.3 billion of government bonds in three tranches of auctions on Thursday.

The bank repurchased Rs. 13.75 billion of 7.49% bonds due 2017 at a cut-off price of 103.4 to yield 6.92%.

The bank received 61 bids totaling Rs. 28,189,840,000, of which 26 bids were accepted.

In a second tranche, the bank repurchased Rs. 2.7 billion of 8.35% bonds due 2022 at a cut-off price of 108.25 to yield 7.3502%.

For this tranche, the bank received 11 bids totaling Rs. 4.2 billion, of which six bids were accepted.

In the third tranche, the bank repurchased Rs. 1.85 billion of 7.95% bonds due 2032 at a cut-off price of 103.2 to yield 7.6456%.

For this tranche, the bank received 28 bids totaling Rs. 8.6 billion, of which three bids were accepted.

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