By Jennifer Chiou
New York, Aug. 13 - The Reserve Bank of India issued 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 97.86 to yield 7.7054%.
Of the 146 competitive bids totaling Rs. 81.1 billion received for this tranche, 68 bids were accepted for Rs. 39,932,470,000. Also, four non-competitive bids were received and accepted for Rs. 67.53 million.
The bank also sold a Rs. 50 billion add-on to its 7.8% bonds due 2020 at a cut-off price of 99.32 to yield 7.8988%.
Of the 198 competitive bids totaling Rs. 100,127,300,000 received for this tranche, 94 bids were accepted for Rs. 49.883 billion. Also, four non-competitive bids were received and accepted for Rs. 117 million.
In a third tranche, the bank sold a Rs. 30 billion add-on to its 8.26% bonds due 2027 at a cut-off price of 98.81 to yield 8.3921%.
Of the 152 competitive bids totaling Rs. 75,583,900,000 received, 50 bids were accepted for Rs. 29,336,000,000. Also, 10 non-competitive bids were received and accepted for Rs. 664 million.
In an auction on July 30, the bank issued Rs. 50 billion of the 7.17% bonds and Rs. 50 billion of the 7.8% bonds.
| Issuer: | Reserve Bank of India
|
| Total amount: | Rs. 120 billion
|
| Issue: | Government bonds
|
| Auction date: | Aug. 13
|
|
|
| Bonds due 2015
|
| Amount: | Rs. 40 billion
|
| Maturity: | 2015
|
| Coupon: | 7.17%
|
| Cut-off price: | 97.86
|
| Yield: | 7.7054%
|
|
|
| Bonds due 2020
|
| Amount: | Rs. 50 billion
|
| Maturity: | 2020
|
| Coupon: | 7.8%
|
| Cut-off price: | 99.32
|
| Yield: | 7.8988%
|
|
|
| Bonds due 2027
|
| Amount: | Rs. 30 billion
|
| Maturity: | 2027
|
| Coupon: | 8.26%
|
| Cut-off price: | 98.81
|
| Yield: | 8.3921%
|
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