By Richard Connell
New York, Feb. 5 - The Reserve Bank of India sold Rs. 80 billion of government bonds in three tranches on Friday.
The bank sold a Rs. 30 billion add-on to its 7.02% bonds due 2016 at a cut-off price of 97.52 to yield 7.5071%.
Of the 133 competitive bids totaling Rs. 52.182 billion received, 92 bids were accepted for Rs. 29.96 billion. Also, three non-competitive bids were received and accepted for Rs. 40 million.
The bank also sold a Rs. 30 billion add-on to its 6.35% bonds due 2020 at a cut-off price of 90.9 to yield 7.6777%.
Of the 136 competitive bids totaling Rs. 58.91 billion received for this tranche, 78 bids were accepted for Rs. 29.837 billion. Also, five non-competitive bids were received and accepted for Rs. 163 million.
In a third tranche, the bank sold a Rs. 20 billion add-on to its 8.24% bonds due 2027 at a cut-off price of 99.25 to yield 8.3228%.
Of the 128 competitive bids totaling Rs. 51.169 billion received in this tranche, 67 bids were accepted for Rs. 19,223,610,000. Also, 10 non-competitive bids were received and accepted for Rs. 776.39 million.
| Issuer: | Reserve Bank of India
|
| Total amount: | Rs. 80 billion
|
| Issue: | Government bonds
|
| Auction date: | Feb. 5
|
|
|
| Bonds due 2016 (Re-issue)
|
| Amount: | Rs. 30 billion
|
| Maturity: | 2016
|
| Coupon: | 7.02%
|
| Cut-off price: | 97.52
|
| Yield: | 7.5071%
|
|
|
| Bonds due 2020 (Re-issue)
|
| Amount: | Rs. 30 billion
|
| Maturity: | 2020
|
| Coupon: | 6.35%
|
| Cut-off price: | 90.9
|
| Yield: | 7.6777%
|
|
|
| Bonds due 2027 (Re-issue)
|
| Amount: | Rs. 20 billion
|
| Maturity: | 2027
|
| Coupon: | 8.24%
|
| Cut-off price: | 99.25
|
| Yield: | 8.3228%
|
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