By Richard Connell
New York, July 9 - The Reserve Bank of India sold Rs. 120 billion of government bonds in three tranches on Friday.
The bank sold a Rs. 40 billion add-on to its 7.17% bonds due 2015 at a cut-off price of 99.05 to yield 7.4017%.
Of the 195 competitive bids totaling Rs. 127.48 billion received for this tranche, 67 bids were accepted for Rs. 39.946 billion. Also, four non-competitive bids were received and accepted for Rs. 54 million.
The bank also sold a Rs. 50 billion add-on to its 7.8% bonds due 2020 at a cut-off price of 100.87 to yield 7.6696%.
Of the 165 competitive bids totaling Rs. 85.96 billion received for this tranche, 130 bids were accepted for Rs. 49.93 billion. Also, three non-competitive bids were received and accepted for Rs. 70 million.
In a third tranche, the bank sold a Rs. 30 billion add-on to its 8.32% bonds due 2032 at a cut-off price of 99.92 to yield 8.3271%.
Of the 93 competitive bids totaling Rs. 56.78 billion received, 68 bids were accepted for Rs. 29,727,500,000. Also, eight non-competitive bids were received and accepted for Rs. 272.5 million.
| Issuer: | Reserve Bank of India
|
| Total amount: | Rs. 120 billion
|
| Issue: | Government bonds
|
| Auction date: | July 9
|
|
|
| Bonds due 2015
|
| Amount: | Rs. 40 billion
|
| Maturity: | 2015
|
| Coupon: | 7.17%
|
| Cut-off price: | 99.05
|
| Yield: | 7.4017%
|
|
|
| Bonds due 2020
|
| Amount: | Rs. 50 billion
|
| Maturity: | 2020
|
| Coupon: | 7.8%
|
| Cut-off price: | 100.87
|
| Yield: | 7.6696%
|
|
|
| Bonds due 2032
|
| Amount: | Rs. 30 billion
|
| Maturity: | 2032
|
| Coupon: | 8.32%
|
| Cut-off price: | 99.92
|
| Yield: | 8.3271%
|
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