By Richard Connell
New York, April 2 - The Reserve Bank of India sold Rs. 120 billion of government bonds in two tranches on Thursday.
The bank sold a Rs. 80 billion add-on to its 7.56% bonds due 2014 at a cut-off price of 103.47 to yield 6.801%.
Of the 233 competitive bids totaling Rs. 173.605 billion received, 84 bids were accepted for Rs. 79.96 billion. Also, two non-competitive bids were received and accepted for Rs. 40 million.
The bank also sold a Rs. 40 billion add-on to its 7.94% bonds due 2021 at a cut-off price of 102.5 to yield 7.6188%.
Of the 161 competitive bids totaling Rs. 77,567,500,000 received for this tranche, 59 bids were accepted for Rs. 34.275 billion. Also, four non-competitive bids were received and accepted for Rs. 55 million.
A further Rs. 5.67 billion was accepted from primary dealers.
| Issuer: | Reserve Bank of India
|
| Total amount: | Rs. 120 billion
|
| Issue: | Government bonds
|
| Auction date: | April 2
|
|
|
| Bonds due 2014 (Re-issue)
|
| Amount: | Rs. 80 billion
|
| Maturity: | 2014
|
| Coupon: | 7.56%
|
| Cut-off price: | 103.47
|
| Yield: | 6.801%
|
|
|
| Bonds due 2021 (Re-issue)
|
| Amount: | Rs. 40 billion
|
| Maturity: | 2021
|
| Coupon: | 7.94%
|
| Cut-off price: | 102.5
|
| Yield: | 7.6188%
|
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