By Richard Connell
New York, Jan. 21 - 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 7.99% bonds due 2017 at a cut-off price of 99.01 to yield 8.1892%.
Of the 106 competitive bids totaling Rs. 68.521 billion received, 76 were accepted for Rs. 39,973,500,000. Also, three non-competitive bids were received and accepted for Rs. 26.5 million.
The bank also sold a Rs. 40 billion add-on to its 8.08% bonds due 2022 at a cut-off price of 98.75 to yield 8.2497%.
Of the 138 competitive bids totaling Rs. 67,657,600,000 received, 95 were accepted for Rs. 39,909,200,000. Also, eight non-competitive bids were received and accepted for Rs. 90.8 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 97.7 to yield 8.5216%.
Of the 144 competitive bids totaling Rs. 69,761,110,000 received, 64 were accepted for Rs. 29,583,240,000. Also, eight non-competitive bids were received and accepted for Rs. 416.76 million.
| Issuer: | Reserve Bank of India
|
| Total amount: | Rs. 110 billion
|
| Issue: | Government bonds
|
| Auction date: | Jan. 21
|
|
|
| Bonds due 2017
|
| Amount: | Rs. 40 billion
|
| Maturity: | 2017
|
| Coupon: | 7.99%
|
| Cut-off price: | 99.01
|
| Yield: | 8.1892%
|
|
|
| Bonds due 2022
|
| Amount: | Rs. 40 billion
|
| Maturity: | 2022
|
| Coupon: | 8.08%
|
| Cut-off price: | 98.75
|
| Yield: | 8.2497%
|
|
|
| Bonds due 2027
|
| Amount: | Rs. 30 billion
|
| Maturity: | 2027
|
| Coupon: | 8.26%
|
| Cut-off price: | 97.7
|
| Yield: | 8.5216%
|
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