By Richard Connell
New York, May 21 - The Reserve Bank of India sold Rs. 130 billion of government bonds in three tranches on Friday.
The bank sold a Rs. 50 billion add-on to its 7.02% bonds due 2016 at a cut-off price of 98.16 to yield 7.3906%.
Of the 147 competitive bids totaling Rs. 92.68 billion received for this tranche, 98 bids were accepted for Rs. 49.895 billion. Also, four non-competitive bids were received and accepted for Rs. 105 million.
The bank also sold a Rs. 50 billion add-on to its 8.2% bonds due 2022 at a cut-off price of 104.26 to yield 7.641%.
Of the 165 competitive bids totaling Rs. 93.965 billion received for this tranche, 101 bids were accepted for Rs. 49,871,500,000. Also, six non-competitive bids were received and accepted for Rs. 128.5 million.
In a third tranche, the bank sold a Rs. 30 billion add-on to its 8.26% bonds due 2027 at a cut-off price of 102.6 to yield 7.9774%.
Of the 156 competitive bids totaling Rs. 74,881,500,000 received, 24 bids were accepted for Rs. 29,471,790,000. Also, 10 non-competitive bids were received and accepted for Rs. 528.21 million.
| Issuer: | Reserve Bank of India
|
| Total amount: | Rs. 130 billion
|
| Issue: | Government bonds
|
| Auction date: | May 21
|
|
|
| Bonds due 2016
|
| Amount: | Rs. 50 billion
|
| Maturity: | 2016
|
| Coupon: | 7.02%
|
| Cut-off price: | 98.16
|
| Yield: | 7.3906%
|
|
|
| Bonds due 2022
|
| Amount: | Rs. 50 billion
|
| Maturity: | 2022
|
| Coupon: | 8.2%
|
| Cut-off price: | 104.26
|
| Yield: | 7.641%
|
|
|
| Bonds due 2027
|
| Amount: | Rs. 30 billion
|
| Maturity: | 2027
|
| Coupon: | 8.26%
|
| Cut-off price: | 102.6
|
| Yield: | 7.9774%
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
