By Wendy Van Sickle
Columbus, Ohio, Jan. 22 – 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 99.68 to yield 7.7328%.
Of the 158 competitive bids totaling Rs. 122.71 billion received, 47 were accepted for Rs. 29.82 billion. Eleven non-competitive bids were received and accepted for Rs. 176 million.
The bank also priced a Rs. 80 billion new issue of its 7.59% bonds due 2026 at a cut-off price of 99.71 to yield 7.6314%.
Of the 221 competitive bids totaling Rs. 183.9 billion received, 90 were accepted for Rs. 69.87 billion. Six non-competitive bids were received and accepted for Rs. 130 million.
The bank priced a Rs. 20 billion re-issue of its 7.73% bonds due 2034 at a cut-off price of 96.87 to yield 8.0539%.
Of the 123 competitive bids totaling Rs. 56.56 billion received, 48 were accepted for Rs. 11.79 billion. Ten non-competitive bids were received and accepted for Rs. 168 million.
The bank also priced a Rs. 20 billion re-issue of its 7.72% bonds due 2055 at a cut-off price of 96.64 to yield 7.9996%.
Of the 52 competitive bids totaling Rs. 48.93 billion received, seven were accepted for Rs. 20 billion. No non-competitive bids were received.
| Issuer: | Reserve Bank of India
|
| Total amount: | Rs. 140 billion
|
| Issue: | Government stock
|
| Auction date: | Jan. 22
|
|
|
| Bonds due 2023
|
| Amount: | Rs. 20 billion
|
| Maturity: | 2023
|
| Coupon: | 7.68%
|
| Cut-off price: | 99.68
|
| Yield: | 7.7328%
|
|
|
| Bonds due 2026
|
| Amount: | Rs. 80 billion
|
| Maturity: | 2026
|
| Coupon: | 7.59%
|
| Cut-off price: | 99.71
|
| Yield: | 7.6314%.
|
|
|
| Bonds due 2034
|
| Amount: | Rs. 20 billion
|
| Maturity: | 2034
|
| Coupon: | 7.73%
|
| Cut-off price: | 96.87
|
| Yield: | 8.0539%
|
|
|
| Bonds due 2055
|
| Amount: | Rs. 20 billion
|
| Maturity: | 2055
|
| Coupon: | 7.72%
|
| Cut-off price: | 96.64
|
| Yield: | 7.9996%
|
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