By Richard Connell
New York, Jan. 7 - The Reserve Bank of India auctioned Rs. 110 billion of government bonds in three tranches on Friday.
The bank sold a Rs. 40 billion add-on to its 7.49% bonds due 2017 at a cut-off price of 97.25 to yield 8.0536%.
Of the 115 competitive bids totaling Rs. 68.485 billion received, 68 were accepted for Rs. 32.71 billion. Also, two non-competitive bids were received and accepted for Rs. 55 million. A further Rs. 7.235 billion was purchased by primary dealers.
The bank also sold a Rs. 40 billion add-on to its 7.8% bonds due 2020 at a cut-off price of 97.48 to yield 8.1891%.
Of the 104 competitive bids totaling Rs. 68.537 billion received, 33 were accepted for Rs. 25.017 billion. Also, six non-competitive bids were received and accepted for Rs. 122 million. A further Rs. 14.861 billion was purchased by primary dealers.
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 98.1 to yield 8.4745%.
Of the 132 competitive bids totaling Rs. 62,350,700,000 received, 56 were accepted for Rs. 29,451,100,000. Also, 11 non-competitive bids were received and accepted for Rs. 548.9 million.
| Issuer: | Reserve Bank of India
|
| Total amount: | Rs. 110 billion
|
| Issue: | Government bonds
|
| Auction date: | Jan. 7
|
|
|
| Bonds due 2017
|
| Amount: | Rs. 40 billion
|
| Maturity: | 2017
|
| Coupon: | 7.49%
|
| Cut-off price: | 97.25
|
| Yield: | 8.0536%
|
|
|
| Bonds due 2020
|
| Amount: | Rs. 40 billion
|
| Maturity: | 2020
|
| Coupon: | 7.8%
|
| Cut-off price: | 97.48
|
| Yield: | 8.1891%
|
|
|
| Bonds due 2027
|
| Amount: | Rs. 30 billion
|
| Maturity: | 2027
|
| Coupon: | 8.26%
|
| Cut-off price: | 98.1
|
| Yield: | 8.4745%
|
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