By Tali Rackner
Minneapolis, July 28 – 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 97.35 to yield 6.7672%.
Of the 43 competitive bids totaling Rs. 125.5 billion received, four were accepted for Rs. 29.97 billion. Two non-competitive bids were received and accepted for Rs. 26 million.
The bank also priced an Rs. 80 billion re-issue of its 6.79% bonds due 2027 at a cut-off price of 102.52 to yield 6.4373%.
Of the 200 competitive bids totaling Rs. 339.71 billion received, 12 were accepted for Rs. 79.89 billion. Six non-competitive bids were received and accepted for Rs. 115 million.
The bank priced a Rs. 20 billion re-issue of its 7.73% bonds due 2034 at a cut-off price of 106.7 to yield 7.054%.
Of the 129 competitive bids totaling Rs. 99.01 billion received, 42 were accepted for Rs. 19.88 billion. Eight non-competitive bids were received and accepted for Rs. 120.73 million.
The bank also priced a Rs. 20 billion re-issue of its 7.06% bonds due 2046 at a cut-off price of 99.99 to yield 7.0596%.
Of the 114 competitive bids totaling Rs. 75.06 billion received, seven were accepted for Rs. 19.84 billion. Ten non-competitive bids were received and accepted for Rs. 165 million.
| Issuer: | Reserve Bank of India
|
| Total amount: | Rs. 150 billion
|
| Issue: | Government stock, floating-rate bonds
|
| Auction date: | July 28
|
|
|
| Bonds due 2024
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| Amount: | Rs. 30 billion
|
| Maturity: | 2024
|
| Coupon: | GOI floating-rate
|
| Cut-off price: | 97.35
|
| Yield: | 6.7672%
|
|
|
| Bonds due 2027
|
| Amount: | Rs. 80 billion
|
| Maturity: | 2027
|
| Coupon: | 6.79%
|
| Cut-off price: | 102.52
|
| Yield: | 6.4373%
|
|
|
| Bonds due 2034
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| Amount: | Rs. 20 billion
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| Maturity: | 2034
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| Coupon: | 7.73%
|
| Cut-off price: | 106.7
|
| Yield: | 7.054%
|
|
|
| Bonds due 2046
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| Amount: | Rs. 20 billion
|
| Maturity: | 2046
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| Coupon: | 7.06%
|
| Cut-off price: | 99.99
|
| Yield: | 7.0596%
|
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