By Tali Rackner
Minneapolis, July 14 – The Reserve Bank of India auctioned Rs. 180 billion of government stock and floating-rate bonds in four tranches on Friday, according to a government announcement.
The bank priced a Rs. 30 billion re-issue of its GOI floating-rate bonds due 2024 at a cut-off price of 97.2 to yield 6.8179%.
Of the 51 competitive bids totaling Rs. 114.32 billion received, 12 were accepted for Rs. 29.98 billion. One non-competitive bid was received and accepted for Rs. 20 million.
The bank also priced a Rs. 90 billion re-issue of its 6.79% bonds due 2027 at a cut-off price of 102.24 to yield 6.4766%.
Of the 244 competitive bids totaling Rs. 392.32 billion received, 83 were accepted for Rs. 89.53 billion. Eleven non-competitive bids were received and accepted for Rs. 466.5 million.
The bank priced a Rs. 30 billion re-issue of its 7.73% bonds due 2034 at a cut-off price of 106.4 to yield 7.0839%.
Of the 126 competitive bids totaling Rs. 80.07 billion received, 67 were accepted for Rs. 29.93 billion. Six non-competitive bids were received and accepted for Rs. 72.54 million.
The bank also priced a Rs. 30 billion re-issue of its 7.06% bonds due 2046 at a cut-off price of 99.86 to yield 7.0702%.
Of the 126 competitive bids totaling Rs. 89.36 billion received, one was accepted for Rs. 29.37 billion. Fourteen non-competitive bids were received and accepted for Rs. 635 million.
| Issuer: | Reserve Bank of India
|
| Total amount: | Rs. 180 billion
|
| Issue: | Government stock, floating-rate bonds
|
| Auction date: | July 14
|
|
|
| Bonds due 2024
|
| Amount: | Rs. 30 billion
|
| Maturity: | 2024
|
| Coupon: | GOI floating-rate
|
| Cut-off price: | 97.2
|
| Yield: | 6.8197%
|
|
|
| Bonds due 2027
|
| Amount: | Rs. 90 billion
|
| Maturity: | 2027
|
| Coupon: | 6.79%
|
| Cut-off price: | 102.24
|
| Yield: | 6.4766%
|
|
|
| Bonds due 2034
|
| Amount: | Rs. 30 billion
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| Maturity: | 2034
|
| Coupon: | 7.73%
|
| Cut-off price: | 106.4
|
| Yield: | 7.0839%
|
|
|
| Bonds due 2046
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| Amount: | Rs. 30 billion
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| Maturity: | 2046
|
| Coupon: | 7.06%
|
| Cut-off price: | 99.86
|
| Yield: | 7.0702%
|
|
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