By Richard Connell
New York, Dec. 10 - The Reserve Bank of India sold Rs. 60 billion of government bonds in two tranches of auctions on Friday.
The bank sold a Rs. 30 billion add-on to its 7.49% bonds due 2017 at a cut-off price of 97.09 to yield 8.0822%.
Of the 95 competitive bids totaling Rs. 61,895,600,000 received, 43 were accepted for Rs. 29.969 billion. Also, two non-competitive bids were received and accepted for Rs. 31 million.
The bank also sold a Rs. 30 billion add-on to its 8.26% bonds due 2027 at a cut-off price of 97.87 to yield 8.4996%.
Of the 139 competitive bids totaling Rs. 72.436 billion received, 32 were accepted for Rs. 29,791,460,000. Also, six non-competitive bids were received and accepted for Rs. 208.54 million.
| Issuer: | Reserve Bank of India
|
| Total amount: | Rs. 60 billion
|
| Issue: | Government bonds
|
| Auction date: | Dec. 10
|
|
|
| Bonds due 2017
|
| Amount: | Rs. 30 billion
|
| Maturity: | 2017
|
| Coupon: | 7.49%
|
| Cut-off price: | 97.09
|
| Yield: | 8.0822%
|
|
|
| Bonds due 2027
|
| Amount: | Rs. 30 billion
|
| Maturity: | 2027
|
| Coupon: | 8.26%
|
| Cut-off price: | 97.87
|
| Yield: | 8.4996%
|
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