By Tali Rackner
Minneapolis, May 12 – The Reserve Bank of India auctioned Rs. 150 billion of government stock and floating-rate bonds in four tranches on Friday, according to a government announcement.
The bank priced a Rs. 30 billion re-issue of its GOI floating-rate bonds due 2024 at a cut-off price of 96.9 to yield 6.8313%.
Of the 62 competitive bids totaling Rs. 134.1 billion received, seven were accepted for Rs. 29.96 billion. Two non-competitive bids were received and accepted for Rs. 40 million.
The bank also priced an Rs. 80 billion new issue of its 6.79% bonds due 2027.
Of the 274 competitive bids totaling Rs. 528.81 billion received, 87 were accepted for Rs. 79.45 billion. Thirteen non-competitive bids were received and accepted for Rs. 546 million.
The bank priced a Rs. 20 billion re-issue of its 7.73% bonds due 2034 at a cut-off price of 102.71 to yield 7.45%.
Of the 74 competitive bids totaling Rs. 57.23 billion received, two were accepted for Rs. 19.88 billion. Six non-competitive bids were received and accepted for Rs. 123.5 million.
The bank also priced a Rs. 20 billion re-issue of its 7.06% bonds due 2046 at a cut-off price of 95.02 to yield 7.4803%.
Of the 40 competitive bids totaling Rs. 46.88 billion received, three were accepted for Rs. 19.97 billion. Three non-competitive bids were received and accepted for Rs. 30 million.
| Issuer: | Reserve Bank of India
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| Total amount: | Rs. 150 billion
|
| Issue: | Government stock, floating-rate bonds
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| Auction date: | May 12
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| Bonds due 2024
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| Amount: | Rs. 30 billion
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| Maturity: | 2024
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| Coupon: | GOI floating-rate
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| Cut-off price: | 96.9
|
| Yield: | 6.8313%
|
|
|
| Bonds due 2027
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| Amount: | Rs. 80 billion
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| Maturity: | 2027
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| Coupon: | 6.79%
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| Bonds due 2034
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| Amount: | Rs. 20 billion
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| Maturity: | 2034
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| Coupon: | 7.73%
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| Cut-off price: | 102.71
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| Yield: | 7.45%
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| Bonds due 2046
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| Amount: | Rs. 20 billion
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| Maturity: | 2046
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| Coupon: | 7.06%
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| Cut-off price: | 95.02
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| Yield: | 7.4803%
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