By Richard Connell
New York, Oct. 31 - The Reserve Bank of India sold Rs. 100 billion of government bonds in two tranches on Friday.
The bank auctioned Rs. 60 billion bonds due 2014 with a weighted average yield of 7.5179%. The cut-off yield was 7.56%.
Competitive bids for Rs. 214.465 billion were received for this sale, of which Rs. 59.87 billion were accepted.
The bank also received and accepted non-competitive bids for Rs. 130 million.
In a second auction, the bank sold a Rs. 40 billion reopening of its bonds due 2032 at a weighted average price of 99.14. The cut off price was 98.62 for a yield of 8.0797%.
A total of Rs. 75.11 billion competitive bids were received and Rs. 39.92 billion were accepted.
Non-competitive bids for Rs. 80 million were accepted for this tranche.
Issuer: Reserve Bank of India
Total Amount: Rs. 100 billion
| Issue: | Government stock
|
| Auction date: | Oct. 31
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|
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| Bonds due 2014
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| Amount: | Rs. 60 billion
|
| Maturity: | 2014
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| Average weighted yield: | 7.5179%
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| Cut off yield: | 7.56%
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|
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| Bonds due 2032
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| Amount: | Rs. 40 billion
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| Maturity: | 2032
|
| Weighted average price: | 99.14
|
| Cut off yield: | 8.0797%
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