By Tali Rackner
Norfolk, Va., Aug. 28 – The Reserve Bank of India auctioned Rs. 140 billion of government stock in four tranches on Friday, according to a government announcement.
The bank priced a Rs. 20 billion re-issue of its 7.68% instrument bonds due 2023 at a cut-off price of 98.6 to yield 7.9104%.
Of the 140 competitive bids totaling Rs. 76.47 billion received, 36 were accepted for Rs. 19.96 billion. Six non-competitive bids were received and accepted for Rs. 44.5 million.
The bank also priced a Rs. 60 billion re-issue of its 7.72% bonds due 2025 at a cut-off price of 99.57 to yield 7.7811%.
Of the 167 competitive bids totaling Rs. 171 billion received, 73 were accepted for Rs. 59.89 billion. Ten non-competitive bids were received and accepted for Rs. 112.5 million.
The bank priced a Rs. 30 billion re-issue of its 8.24% bonds due 2033 at a cut-off price of 101.01 to yield 8.026%.
Of the 118 competitive bids totaling Rs. 75.66 billion received, 60 were accepted for Rs. 29.92 billion. Six non-competitive bids were received and accepted for Rs. 85 million.
The bank also priced a Rs. 30 billion re-issue of its 8.13% bonds due 2045 at a cut-off price of 101.5 to yield 7.9956%.
Of the 173 competitive bids totaling Rs. 97.31 billion received, 68 were accepted for Rs. 29.98 billion. One non-competitive bid was received and accepted for Rs. 20 million.
Issuer: | Reserve Bank of India
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Total amount: | Rs. 140 billion
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Issue: | Government stock
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Auction date: | Aug. 28
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Bonds due 2023
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Amount: | Rs. 20 billion
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Maturity: | 2023
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Coupon: | 7.68%
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Cut-off price: | 98.6
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Yield: | 7.9104%
|
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Bonds due 2025
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Amount: | Rs. 60 billion
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Maturity: | 2025
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Coupon: | 7.72%
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Cut-off price: | 99.57
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Yield: | 7.7811%
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Bonds due 2033
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Amount: | Rs. 30 billion
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Maturity: | 2033
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Coupon: | 8.24%
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Cut-off price: | 102.01
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Yield: | 8.026%
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Bonds due 2045
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Amount: | Rs. 30 billion
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Maturity: | 2045
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Coupon: | 8.13%
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Cut-off price: | 101.5
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Yield: | 7.9956%
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