By Richard Connell
New York, Dec. 4 - The Reserve Bank of India sold Rs. 100 billion of government bonds in three tranches on Friday.
The bank sold a Rs. 30 billion add-on to its 7.02% bonds due 2016 at a cut-off price of 98.45 to yield 7.3141%.
Of the 176 competitive bids totaling Rs. 72,267,500,000 received, 75 bids were accepted for Rs. 29,944,850,000. Also, four non-competitive bids were received and accepted for Rs. 55.15 million.
The bank also sold a Rs. 40 billion add-on to its 6.9% bonds due 2019 at a cut-off price of 96.69 to yield 7.3859%.
Of the 170 competitive bids totaling Rs. 90.24 billion received for this tranche, 51 bids were accepted for Rs. 39,969,850,000. Also, two non-competitive bids were received and accepted for Rs. 30.15 million.
In a third tranche, the bank sold a Rs. 30 billion add-on to its 8.28% bonds due 2032 at a cut-off price of 99.59 to yield 8.3188%.
Of the 125 competitive bids totaling Rs. 62.206 billion received in this tranche, 72 bids were accepted for Rs. 29.594 billion. Also, 11 non-competitive bids were received and accepted for Rs. 406 million.
| Issuer: | Reserve Bank of India
|
| Total amount: | Rs. 100 billion
|
| Issue: | Government bonds
|
| Auction date: | Dec. 4
|
|
|
| Bonds due 2016 (Re-issue)
|
| Amount: | Rs. 30 billion
|
| Maturity: | 2016
|
| Coupon: | 7.02%
|
| Cut-off price: | 98.45
|
| Yield: | 7.3141%
|
|
|
| Bonds due 2019 (Re-issue)
|
| Amount: | Rs. 40 billion
|
| Maturity: | 2019
|
| Coupon: | 6.9%
|
| Cut-off price: | 96.69
|
| Yield: | 7.3859%
|
|
|
| Bonds due 2032 (Re-issue)
|
| Amount: | Rs. 30 billion
|
| Maturity: | 2032
|
| Coupon: | 8.28%
|
| Cut-off price: | 99.59
|
| Yield: | 8.3188%
|
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