By Wendy Van Sickle
Columbus, Ohio, Sept. 25 – The Reserve Bank of India auctioned Rs. 140 billion of government stock in four tranches on Thursday, according to a government announcement.
The bank priced a Rs. 20 billion re-issue of its 7.35% bonds due 2024 at a cut-off price of 96.81 to yield 7.8589%.
Of the 128 competitive bids totaling Rs. 80.21 billion received, 24 were accepted for Rs. 19.94 billion. Four non-competitive bids were received and accepted for Rs. 56.3 million.
The bank also priced a Rs. 60 billion re-issue of its 7.88% bonds due 2030 at a cut-off price of 103.36 to yield 7.8376%.
Of the 201 competitive bids totaling Rs. 179.58 billion received, 88 were accepted for Rs. 59.91 billion. Five non-competitive bids were received and accepted for Rs. 90 million.
The bank priced a Rs. 30 billion re-issue of its 8.24% bonds due 2033 at a cut-off price of 102.59 to yield 7.966%.
Of the 130 competitive bids totaling Rs. 97.52 billion received, 44 were accepted for Rs. 29.92 billion. Five non-competitive bids were received and accepted for Rs. 83 million.
The bank also priced a Rs. 30 billion re-issue of its 8.13% bonds due 2045 at a cut-off price of 102.04 to yield 7.9484%.
Of the 145 competitive bids totaling Rs. 78.24 billion received, 56 were accepted for Rs. 29.98 billion. Three non-competitive bids were received and accepted for Rs. 20.15 million.
Issuer: | Reserve Bank of India
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Total amount: | Rs. 140 billion
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Issue: | Government stock
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Auction date: | Sept. 24
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Bonds due 2024
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Amount: | Rs. 20 billion
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Maturity: | 2024
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Coupon: | 7.35%
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Cut-off price: | 96.81
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Yield: | 7.8589%
|
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Bonds due 2030
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Amount: | Rs. 60 billion
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Maturity: | 2030
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Coupon: | 7.88%
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Cut-off price: | 103.36
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Yield: | 7.8376%
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Bonds due 2033
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Amount: | Rs. 30 billion
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Maturity: | 2033
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Coupon: | 8.24%
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Cut-off price: | 102.59
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Yield: | 7.966%
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Bonds due 2045
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Amount: | Rs. 30 billion
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Maturity: | 2045
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Coupon: | 8.13%
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Cut-off price: | 102.04
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Yield: | 7.9484%
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