By Tali David
Minneapolis, Sept. 6 - The Reserve Bank of India auctioned Rs. 100 billion of government stock in two tranches on Friday, according to a government announcement.
The bank priced a Rs. 30 billion add-on to its 8.12% bonds due 2020 at a cut-off price of 96.77 to yield 8.7265 %.
Of the 122 competitive bids totaling Rs. 89.13 billion received, 46 were accepted for Rs. 29.83 billion. Six non-competitive bids were received and accepted for Rs. 170.7 million.
The bank also priced a Rs. 70 billion add-on to its 8.28% bonds due 2027 at a cut-off price of 96.9 to yield 8.6654%.
Of the 181 competitive bids totaling Rs. 163.14 billion received, 53 were accepted for Rs. 69.8 billion. Twelve non-competitive bids were received and accepted for Rs. 202.5 million.
| Issuer: | Reserve Bank of India
|
| Total amount: | Rs. 100 billion
|
| Issue: | Government stock
|
| Auction date: | Sept. 6
|
|
|
| Bonds due 2020
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| Amount: | Rs. 30 billion
|
| Maturity: | 2020
|
| Coupon: | 8.12%
|
| Cut-off price: | 96.77
|
| Yield: | 8.7265%
|
|
|
| Bonds due 2027
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| Amount: | Rs. 70 billion
|
| Maturity: | 2027
|
| Coupon: | 8.28%
|
| Cut-off price: | 96.9
|
| Yield: | 8.6654%
|
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