Reserve Bank of India repurchases Rs. 36.42 billion government bonds

By Richard Connell

New York, May 21 - The Reserve Bank of India bought back Rs. 36,424,400,000 of government bonds in four tranches of auctions on Thursday.

The bank repurchased Rs. 7.252 billion of 8.24% bonds due 2018 at a cut-off price of 110.25 to yield 6.6935%.

The bank received 35 bids totaling Rs. 29.402 billion, of which 17 were accepted.

In a second tranche, the bank repurchased Rs. 9.95 billion of 8.35% bonds due 2022 at a cut-off price of 109.1 to yield 7.2555%.

For this tranche, the bank received 20 bids totaling Rs. 12.75 billion, of which 15 were accepted.

In a third tranche, the bank repurchased Rs. 14,322,400,000 of 8.28% bonds due 2032 at a cut-off price of 108.78 to yield 7.4698%.

For this tranche, the bank received 35 bids totaling Rs. 19,237,400,000, of which 23 were accepted.

In the fourth tranche, the bank repurchased Rs. 4.9 billion of 8.33% bonds due 2036 at a cut-off price of 109.6 to yield 7.4959%.

For this tranche, the bank received 19 bids totaling Rs. 5.9 billion, of which 15 were accepted.

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