By Tali Rackner
Norfolk, Va., Sept. 19 – The Reserve Bank of India auctioned Rs. 120 billion of government stock in four tranches on Friday, according to a government announcement.
The bank priced a Rs. 20 billion re-issue of its 8.27% bonds due 2020 at a cut-off price of 98.85 to yield 8.5237%.
Of the 115 competitive bids totaling Rs. 84.55 billion received, 33 were accepted for Rs. 19.93 billion. Two non-competitive bids were received and accepted for Rs. 20 million.
The bank also priced a Rs. 60 billion re-issue of its 8.4% bonds due 2024 at a cut-off price of 99.57 to yield 8.4625%
Of the 245 competitive bids totaling Rs. 193.72 billion received, 90 were accepted for Rs. 59.8 billion. Eight non-competitive bids were received and accepted for Rs. 197.5 million.
The bank priced a Rs. 20 billion re-issue of its 8.32% bonds due 2032 at a cut-off price of 96.93 to yield 8.6589%.
Of the 96 competitive bids totaling Rs. 62.78 billion received, 12 were accepted for Rs. 19.91 billion. Six non-competitive bids were received and accepted for Rs. 95.5 million.
The bank also priced a Rs. 20 billion re-issue of its 9.23% bonds due 2043 at a cut-off price of 105.81 to yield 8.6777%.
Of the 96 competitive bids totaling Rs. 62.15 billion received, 44 were accepted for Rs. 19.95 billion. Four non-competitive bids were received and accepted for Rs. 54 million.
| Issuer: | Reserve Bank of India
|
| Total amount: | Rs. 120 billion
|
| Issue: | Government stock
|
| Auction date: | Sept. 19
|
|
|
| Bonds due 2020
|
| Amount: | Rs. 20 billion
|
| Maturity: | 2020
|
| Coupon: | 8.27%
|
| Cut-off price: | 98.85
|
| Yield: | 8.5237%
|
|
|
| Bonds due 2024
|
| Amount: | Rs. 60 billion
|
| Maturity: | 2024
|
| Coupon: | 8.4%
|
| Cut-off price: | 99.57
|
| Yield: | 8.4625%
|
|
|
| Bonds due 2032
|
| Amount: | Rs. 20 billion
|
| Maturity: | 2032
|
| Coupon: | 8.32%
|
| Cut-off price: | 96.93
|
| Yield: | 8.6589%
|
|
|
| Bonds due 2043
|
| Amount: | Rs. 20 billion
|
| Maturity: | 2043
|
| Coupon: | 9.23%
|
| Cut-off price: | 105.81
|
| Yield: | 8.6777%
|
|
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