By Tali David
Minneapolis, June 21 - 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. 60 billion add-on to its 7.16% bonds due 2023 at a cut-off price of 98.06 to yield 7.4388%.
Of the 249 competitive bids totaling Rs. 170.73 billion received, 84 were accepted for Rs. 59.88 billion. Thirteen non-competitive bids were received and accepted for Rs. 119 million.
The bank also priced a Rs. 30 billion add-on to its 7.28% bonds due 2019 at a cut-off price of 98.65 to yield 7.5648%.
Of the 123 competitive bids totaling Rs. 87.57 billion received, 61 were accepted for Rs. 29.83 billion. Twelve non-competitive bids were received and accepted for Rs. 171.75 million.
The bank priced a Rs. 30 billion add-on to its 8.83% bonds due 2041 at a cut-off price of 112.47 to yield 7.7389%.
Of the 80 competitive bids totaling Rs. 78.9 billion received, 12 were accepted for Rs. 30 billion. No non-competitive bids were received.
The bank also priced a Rs. 30 billion add-on to its 8.97% bonds due 2030 at a cut-off price of 111.77 to yield 7.7292%.
Of the 132 competitive bids totaling Rs. 86.55 billion received, 18 were accepted for Rs. 29.89 billion. Four non-competitive bids were received and accepted for Rs. 107 million.
| Issuer: | Reserve Bank of India
|
| Total amount: | Rs. 150 billion
|
| Issue: | Government stock
|
| Auction date: | June 21
|
|
|
| Bonds due 2023
|
| Amount: | Rs. 60 billion
|
| Maturity: | 2023
|
| Coupon: | 7.16%
|
| Cut-off price: | 98.06
|
| Yield: | 7.4388%
|
|
|
| Bonds due 2019
|
| Amount: | Rs. 30 billion
|
| Maturity: | 2019
|
| Coupon: | 7.28%
|
| Cut-off price: | 98.65
|
| Yield: | 7.5648%
|
|
|
| Bonds due 2041
|
| Amount: | Rs. 30 billion
|
| Maturity: | 2041
|
| Coupon: | 8.83%
|
| Cut-off price: | 112.47
|
| Yield: | 7.7389%
|
|
|
| Bonds due 2030
|
| Amount: | Rs. 30 billion
|
| Maturity: | 2030
|
| Coupon: | 8.97%
|
| Cut-off price: | 111.77
|
| Yield: | 7.7292%
|
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