By Angela McDaniels
Tacoma, Wash., June 24 - The Reserve Bank of India auctioned Rs. 120 billion of government bonds in three tranches on Friday, according to a news release.
The bank priced a Rs. 30 billion add-on to its 7.59% bonds due 2016 at a cut-off price of 97.06 to yield 8.342%.
Of the 126 competitive bids totaling Rs. 63.66 billion received, 73 were accepted for Rs. 29.87 billion. Five non-competitive bids were received and accepted for Rs. 125.4 million.
The bank also priced a Rs. 60 billion add-on to its 8.08% bonds due 2022 at a cut-off price of 98.06 to yield 8.3497%.
Of the 226 competitive bids totaling Rs. 145.42 billion received, 59 were accepted for Rs. 59.84 billion. Six non-competitive bids were received and accepted for Rs. 162.8 million.
The bank priced a Rs. 30 billion add-on to its 8.28% bonds due 2032 at a cut-off price of 96.92 to yield 8.5997%.
Of the 91 competitive bids totaling Rs. 74.22 billion received, 61 were accepted for Rs. 29.89 billion. Six non-competitive bids were received and accepted for Rs. 105.3 million.
| Issuer: | Reserve Bank of India
|
| Total amount: | Rs. 120 billion
|
| Issue: | Government bonds
|
| Auction date: | June 24
|
|
|
| Bonds due 2016
|
| Amount: | Rs. 30 billion
|
| Maturity: | 2016
|
| Coupon: | 7.59%
|
| Cut-off price: | 97.06
|
| Yield: | 8.342%
|
|
|
| Bonds due 2022
|
| Amount: | Rs. 60 billion
|
| Maturity: | 2022
|
| Coupon: | 8.08%
|
| Cut-off price: | 98.06
|
| Yield: | 8.3497%
|
|
|
| Bonds due 2032
|
| Amount: | Rs. 30 billion
|
| Maturity: | 2032
|
| Coupon: | 8.28%
|
| Cut-off price: | 96.92
|
| Yield: | 8.5997%
|
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