By Tali Rackner
Norfolk, Va., Nov. 7 – The Reserve Bank of India auctioned Rs. 120 billion of government stock in three 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 100.12 to yield 8.2402%.
Of the 95 competitive bids totaling Rs. 91.55 billion received, 10 were accepted for Rs. 19.92 billion. Five non-competitive bids were received and accepted for Rs. 85 million.
The bank also priced a Rs. 70 billion re-issue of its 8.6% bonds due 2028 at a cut-off price of 102.56 to yield 8.2811%.
Of the 195 competitive bids totaling Rs. 201.26 billion received, 80 were accepted for Rs. 69.86 billion. Seven non-competitive bids were received and accepted for Rs. 140 million.
The bank priced a Rs. 30 billion re-issue of its 8.3% bonds due 2040 at a cut-off price of 100.35 to yield 8.2653%.
Of the 93 competitive bids totaling Rs. 85.81 billion received, six were accepted for Rs. 29.95 billion. Four non-competitive bids were received and accepted for Rs. 51 million.
| Issuer: | Reserve Bank of India
|
| Total amount: | Rs. 120 billion
|
| Issue: | Government stock
|
| Auction date: | Nov. 7
|
|
|
| Bonds due 2020
|
| Amount: | Rs. 20 billion
|
| Maturity: | 2020
|
| Coupon: | 8.27%
|
| Cut-off price: | 100.12
|
| Yield: | 8.2402%
|
|
|
| Bonds due 2028
|
| Amount: | Rs. 70 billion
|
| Maturity: | 2028
|
| Coupon: | 8.6%
|
| Cut-off price: | 102.56
|
| Yield: | 8.2811%
|
|
|
| Bonds due 2040
|
| Amount: | Rs. 30 billion
|
| Maturity: | 2040
|
| Coupon: | 8.3%
|
| Cut-off price: | 100.35
|
| Yield: | 8.2653%
|
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