By Tali David
Minneapolis, Nov. 22 - The Reserve Bank of India auctioned Rs. 150 billion of government stock in four tranches on Friday, according to a government announcement.
The bank priced a Rs. 30 billion add-on to its 7.28% bonds due 2019 at a cut-off price of 92.97 to yield 8.919%.
Of the 129 competitive bids totaling Rs. 110.76 billion received, 32 were accepted for Rs. 29.98 billion. One non-competitive bid was received and accepted for Rs. 20 million.
The bank also priced a Rs. 30 billion add-on to its 8.3% bonds due 2042 at a cut-off price of 90.29 to yield 9.2679%.
Of the 86 competitive bids totaling Rs. 72.67 billion received, 32 were accepted for Rs. 29.96 billion. Four non-competitive bids were received and accepted for Rs. 41 million.
The bank priced a Rs. 20 billion add-on to its 8.32% bonds due 2032 at a cut-off price of 91.87 to yield 9.2391%.
Of the 136 competitive bids totaling Rs. 65.78 billion received, 37 were accepted for Rs. 19.91 billion. Nine non-competitive bids were received and accepted for Rs. 94.5 million.
The bank also priced a new Rs. 70 billion issue of 8.83% bonds due 2023 at an 8.83% yield.
Of the 231 competitive bids totaling Rs. 143.29 billion received, 144 were accepted for Rs. 69.87 billion. Eight non-competitive bids were received and accepted for Rs. 133.45 million.
| Issuer: | Reserve Bank of India
|
| Total amount: | Rs. 150 billion
|
| Issue: | Government stock
|
| Auction date: | Nov. 22
|
|
|
| Bonds due 2019
|
| Amount: | Rs. 30 billion
|
| Maturity: | 2019
|
| Coupon: | 7.28%
|
| Cut-off price: | 92.97
|
| Yield: | 8.919%
|
|
|
| Bonds due 2042
|
| Amount: | Rs. 30 billion
|
| Maturity: | 2042
|
| Coupon: | 8.3%
|
| Cut-off price: | 90.29
|
| Yield: | 9.2679%
|
|
|
| Bonds due 2032
|
| Amount: | Rs. 20 billion
|
| Maturity: | 2032
|
| Coupon: | 8.32%
|
| Cut-off price: | 91.87
|
| Yield: | 9.2391%
|
|
|
| Bonds due 2023
|
| Amount: | Rs. 70 billion
|
| Maturity: | 2023
|
| Coupon: | 8.83%
|
| Yield: | 8.83$
|
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