By Tali David
Minneapolis, April 18 - The Reserve Bank of India auctioned Rs. 150 billion of government stock in four tranches on Thursday, according to a government announcement.
The bank priced a Rs. 30 billion add-on to its 8.12% bonds due 2020 at a cut-off price of 103.03 to yield 7.5872%.
Of the 143 competitive bids totaling Rs. 123.4 billion received, five were accepted for Rs. 29.93 billion. Five non-competitive bids were received and accepted for Rs. 75.1 million.
The bank also priced a Rs. 60 billion add-on to its 8.15% bonds due 2022 at a cut-off price of 102.41 to yield 7.7743%.
Of the 203 competitive bids totaling Rs. 205.03 billion received, 46 were accepted for Rs. 59.82 billion. Nine non-competitive bids were received and accepted for Rs. 181.6 million.
The bank priced a Rs. 30 billion add-on to its 8.32% bonds due 2032 at a cut-off price of 103.76 to yield 7.934%.
Of the 180 competitive bids totaling Rs. 126.17 billion received, 34 were accepted for Rs. 29.66 billion. Nine non-competitive bids were received and accepted for Rs. 337.7 million.
The bank also priced a Rs. 30 billion add-on to its 8.3% bonds due 2042 at a cut-off price of 103.77 to yield 7.9653%.
Of the 144 competitive bids totaling Rs. 116 billion received, 21 were accepted for Rs. 29.82 billion. Five non-competitive bids were received and accepted for Rs. 177.9 million.
| Issuer: | Reserve Bank of India
|
| Total amount: | Rs. 150 billion
|
| Issue: | Government stock
|
| Auction date: | April 18
|
|
|
| Bonds due 2020
|
| Amount: | Rs. 30 billion
|
| Maturity: | 2020
|
| Coupon: | 8.12%
|
| Cut-off price: | 103.03
|
| Yield: | 7.5872%
|
|
|
| Bonds due 2022
|
| Amount: | Rs. 60 billion
|
| Maturity: | 2022
|
| Coupon: | 8.15%
|
| Cut-off price: | 102.41
|
| Yield: | 7.7743%
|
|
|
| Bonds due 2032
|
| Amount: | Rs. 30 billion
|
| Maturity: | 2032
|
| Coupon: | 8.32%
|
| Cut-off price: | 103.76
|
| Yield: | 7.934%
|
|
|
| Bonds due 2042
|
| Amount: | Rs. 30 billion
|
| Maturity: | 2042
|
| Coupon: | 8.3%
|
| Cut-off price: | 103.77
|
| Yield: | 7.9653%
|
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