By Sarah Lizee
Olympia, Wash., Aug. 31 – The Reserve Bank of India auctioned Rs. 120 billion of Government of India floating-rate bonds and government stock in five tranches on Friday, according to a government announcement.
The bank priced a Rs. 20 billion re-issue of its 6.65% bonds due 2020 at a cut-off price of 98.42 to yield 7.7117%.
Of the 84 competitive bids totaling Rs. 86.95 billion received, 23 were accepted for Rs. 19,979,810,000.
Two non-competitive bids totaling Rs. 20.19 million were received and accepted.
The bank also priced a Rs. 20 billion re-issue of its 7.59% bonds due 2026 at a cut-off price of 97.12 to yield 8.1148%.
Of the 120 competitive bids totaling Rs. 90.83 billion received, 16 were accepted for Rs. 19,968,460,000.
Three non-competitive bids totaling Rs. 31.54 million were received and accepted.
The bank priced a Rs. 30 billion re-issue of Government of India floating-rate bonds due 2031 at a cut-off price of 99.99 to yield 7.9923%.
Of the 45 competitive bids totaling Rs. 97.66 billion received, 13 were accepted for Rs. 29.98 billion.
One non-competitive bid was received and accepted for Rs. 20 million.
The bank priced a Rs. 20 billion re-issue of its 6.57% bonds due 2033 at a cut-off price of 85.19 to yield 8.2971%.
Of the 108 competitive bids totaling Rs. 54.63 billion received, 57 were accepted for Rs. 19,979,720,000.
Two non-competitive bids were received and accepted for Rs. 20.28 million.
The bank also priced a Rs. 30 billion re-issue of its 7.72% bonds due 2055 at a cut-off price of 93.88 to yield 8.2498%.
Of the 148 competitive bids totaling Rs. 87.47 billion received, 41 were accepted for Rs. 29,994,210,000.
Four non-competitive bids totaling Rs. 5.79 million were received and accepted.
| Issuer: | Reserve Bank of India
|
| Total amount: | Rs. 120 billion
|
| Issue: | Government of India floating-rate bonds and government stock
|
| Auction date: | Aug. 31
|
|
|
| Bonds due 2020
|
| Amount: | Rs. 20 billion
|
| Maturity: | 2020
|
| Coupon: | 6.65%
|
| Cut-off price: | 98.42
|
| Yield: | 7.7117%
|
|
|
| Bonds due 2026
|
| Amount: | Rs. 20 billion
|
| Maturity: | 2026
|
| Coupon: | 7.59%
|
| Cut-off price: | 97.12
|
| Yield: | 8.1148%
|
|
|
| Floaters due 2031
|
| Amount: | Rs. 30 billion
|
| Maturity: | 2031
|
| Coupon: | Floating rate
|
| Cut-off price: | 99.99
|
| Yield: | 7.9923%
|
|
|
| Bonds due 2033
|
| Amount: | Rs. 20 billion
|
| Maturity: | 2033
|
| Coupon: | 6.57%
|
| Cut-off price: | 85.19
|
| Yield: | 8.2971%
|
|
|
| Bonds due 2055
|
| Amount: | Rs. 30 billion
|
| Maturity: | 2055
|
| Coupon: | 7.72%
|
| Cut-off price: | 93.88
|
| Yield: | 8.2498%
|
|
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