By Jennifer Chiou
New York, Aug. 26 - The Reserve Bank of India announced that it auctioned Rs. 110 billion of government bonds in three tranches on Friday.
The bank priced a Rs. 30 billion add-on to its 7.83% bonds due 2018 at a cut-off price of 97.41 to yield 8.3444%.
Of the 135 competitive bids totaling Rs. 54.52 billion received, 96 were accepted for Rs. 29.91 billion. Four non-competitive bids were received and accepted for Rs. 90 million.
The bank also priced a Rs. 60 billion add-on to its 7.8% bonds due 2021 at a cut-off price of 96.7 to yield 8.3027%.
Of the 228 competitive bids totaling Rs. 121.75 billion received, 124 were accepted for Rs. 59.87 billion. Six non-competitive bids were received and accepted for Rs. 135 million.
The bank priced a Rs. 20 billion add-on to its 8.28% bonds due 2027 at a cut-off price of 97.36 to yield 8.5849%.
Of the 112 competitive bids totaling Rs. 58.37 billion received, 66 were accepted for Rs. 19.9 billion. Eight non-competitive bids were received and accepted for Rs. 99.25 million.
| Issuer: | Reserve Bank of India
|
| Total amount: | Rs. 110 billion
|
| Issue: | Government bonds
|
| Auction date: | Aug. 26
|
|
|
| Bonds due 2018
|
| Amount: | Rs. 30 billion
|
| Maturity: | 2018
|
| Coupon: | 7.83%
|
| Cut-off price: | 97.41
|
| Yield: | 8.3444%
|
|
|
| Bonds due 2021
|
| Amount: | Rs. 60 billion
|
| Maturity: | 2021
|
| Coupon: | 7.8%
|
| Cut-off price: | 96.7
|
| Yield: | 8.3027%
|
|
|
| Bonds due 2027
|
| Amount: | Rs. 20 billion
|
| Maturity: | 2027
|
| Coupon: | 8.28%
|
| Cut-off price: | 97.36
|
| Yield: | 8.5849%
|
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