By Richard Connell
New York, Aug. 28 - The Reserve Bank of India sold Rs. 120 billion of government bonds in three tranches on Friday.
The bank sold a Rs. 60 billion add-on to its 7.02% bonds due 2016 at a cut-off price of 97.74 to yield 7.4409%.
Of the 177 competitive bids totaling Rs. 931.11 billion received, 150 bids were accepted for Rs. 55.6 billion. Also, five non-competitive bids were received and accepted for Rs. 90 million.
A further Rs. 4.31 billion was accepted from primary dealers for this tranche.
The bank also sold a Rs. 40 billion add-on to its 7.94% bonds due 2021 at a cut-off price of 99.6 to yield 7.9906%.
Of the 129 competitive bids totaling Rs. 607,222,400,000 received for this tranche, 100 bids were accepted for Rs. 37,172,240,000. Also, five non-competitive bids were received and accepted for Rs. 110 million.
A further Rs. 2,717,760,000 was accepted from primary dealers for this tranche.
In a third tranche, the bank sold a Rs. 20 billion add-on to its 8.28% bonds due 2032 at a cut-off price of 100.79 to yield 8.2018%.
Of the 74 competitive bids totaling Rs. 42.949 billion received in this tranche, 25 bids were accepted for Rs. 19.962 billion. Also, three non-competitive bids were received and accepted for Rs. 38 million.
| Issuer: | Reserve Bank of India
|
| Total amount: | Rs. 120 billion
|
| Issue: | Government bonds
|
| Auction date: | Aug. 28
|
|
|
| Bonds due 2016 (Re-issue)
|
| Amount: | Rs. 60 billion
|
| Maturity: | 2016
|
| Coupon: | 7.02%
|
| Cut-off price: | 97.74
|
| Yield: | 7.4409%
|
|
|
| Bonds due 2021 (Re-issue)
|
| Amount: | Rs. 40 billion
|
| Maturity: | 2021
|
| Coupon: | 7.94%
|
| Cut-off price: | 99.9
|
| Yield: | 7.9906%
|
|
|
| Bonds due 2032 (Re-issue)
|
| Amount: | Rs. 20 billion
|
| Maturity: | 2032
|
| Coupon: | 8.28%
|
| Cut-off price: | 100.79
|
| Yield: | 8.2018%
|
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