By Tali Rackner
Norfolk, Va., July 11 – The Reserve Bank of India auctioned Rs. 150 billion of government stock in four tranches on Friday, according to a government announcement.
The bank priced a Rs. 30 billion re-issue of its 8.27% bonds due 2020 at a cut-off price of 97.83 to yield 8.7454%.
Of the 98 competitive bids totaling Rs. 67.2 billion received, 58 were accepted for Rs. 29.84 billion. Four non-competitive bids were received and accepted for Rs. 160 million.
The bank also priced a Rs. 70 billion re-issue of its 8.83% bonds due 2023 at a cut-off price of 100.1 to yield 8.8111%.
Of the 166 competitive bids totaling Rs. 160.79 billion received, 87 were accepted for Rs. 69.08 billion. Eleven non-competitive bids were received and accepted for Rs. 921 million.
The bank priced a Rs. 20 billion re-issue of its 8.32% bonds due 2032 at a cut-off price of 95.53 to yield 8.8185%.
Of the 65 competitive bids totaling Rs. 55.66 billion received, 24 were accepted for Rs. 19.97 billion. Three non-competitive bids were received and accepted for Rs. 31 million.
The bank also priced a Rs. 30 billion re-issue of its 8.3% bonds due 2042 at a cut-off price of 94.42 to yield 8.8386%.
Of the 78 competitive bids totaling Rs. 73.02 billion received, 38 were accepted for Rs. 29.98 billion. Three non-competitive bids were received and accepted for Rs. 24 million.
| Issuer: | Reserve Bank of India
|
| Total amount: | Rs. 150 billion
|
| Issue: | Government stock
|
| Auction date: | July 11
|
|
|
| Bonds due 2020
|
| Amount: | Rs. 30 billion
|
| Maturity: | 2020
|
| Coupon: | 8.27%
|
| Cut-off price: | 97.83
|
| Yield: | 8.7454%
|
|
|
| Bonds due 2023
|
| Amount: | Rs. 70 billion
|
| Maturity: | 2023
|
| Coupon: | 8.83%
|
| Cut-off price: | 100.1
|
| Yield: | 8.8111%
|
|
|
| Bonds due 2032
|
| Amount: | Rs. 20 billion
|
| Maturity: | 2032
|
| Coupon: | 8.32%
|
| Cut-off price: | 95.53
|
| Yield: | 8.8185%
|
|
|
| Bonds due 2042
|
| Amount: | Rs. 30 billion
|
| Maturity: | 2042
|
| Coupon: | 8.3%
|
| Cut-off price: | 94.42
|
| Yield: | 8.8386%
|
|
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