By Richard Connell
New York, May 7 - The Reserve Bank of India sold Rs. 150 billion of government bonds in four tranches on Friday.
The bank sold a Rs. 50 billion add-on to its 7.02% bonds due 2016 at a cut-off price of 98.15 to yield 7.3908%.
Of the 180 competitive bids totaling Rs. 100.725 billion received for this tranche, 80 bids were accepted for Rs. 49,872,500,000. Also, three non-competitive bids were received and accepted for Rs. 127.5 million.
The bank also sold a Rs. 50 billion add-on to its 8.2% bonds due 2022 at a cut-off price of 103.2 to yield 7.7774%.
Of the 130 competitive bids totaling Rs. 79.36 billion received for this tranche, 96 bids were accepted for Rs. 49.76 billion. Also, five non-competitive bids were received and accepted for Rs. 240 million.
In a third tranche, the bank sold a Rs. 30 billion add-on to its 8.26% bonds due 2027 at a cut-off price of 101.25 to yield 8.1217%.
Of the 114 competitive bids totaling Rs. 76.81 billion received, 19 bids were accepted for Rs. 29,405,450,000. Also, 10 non-competitive bids were received and accepted for Rs. 594.55 million.
In the fourth tranche, the bank sold a Rs. 20 billion add-on to its 8.32% bonds due 2032 at a cut-off price of 100.9 to yield 8.2291%.
Of the 138 competitive bids totaling Rs. 60.337 billion received, 24 bids were accepted for Rs. 19.36 billion. Also, 11 non-competitive bids were received and accepted for Rs. 640 million.
| Issuer: | Reserve Bank of India
|
| Total amount: | Rs. 150 billion
|
| Issue: | Government bonds
|
| Auction date: | May 7
|
|
|
| Bonds due 2016
|
| Amount: | Rs. 50 billion
|
| Maturity: | 2016
|
| Coupon: | 7.02%
|
| Cut-off price: | 98.15
|
| Yield: | 7.3908%
|
|
|
| Bonds due 2022
|
| Amount: | Rs. 50 billion
|
| Maturity: | 2022
|
| Coupon: | 8.2%
|
| Cut-off price: | 103.2
|
| Yield: | 7.7774%
|
|
|
| Bonds due 2027
|
| Amount: | Rs. 30 billion
|
| Maturity: | 2027
|
| Coupon: | 8.26%
|
| Cut-off price: | 101.25
|
| Yield: | 8.1217%
|
|
|
| Bonds due 2032
|
| Amount: | Rs. 20 billion
|
| Maturity: | 2032
|
| Coupon: | 8.32%
|
| Cut-off price: | 100.9
|
| Yield: | 8.2291%
|
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