New York, Oct. 10 – The Reserve Bank of India auctioned Rs. 150 billion of government stock in four tranches on Friday, according to a government announcement.
The bank priced a Rs. 30 billion re-issue of its 8.27% bonds due 2020 at a cut-off price of 98.68 to yield 8.5651%.
Of the 162 competitive bids totaling Rs. 111.80 billion received, 45 were accepted for Rs. 29.81 billion. Six non-competitive bids were received and accepted for Rs. 195 million.
The bank also priced a Rs. 70 billion re-issue of its 8.4% bonds due 2024 at a cut-off price of 99.55 to yield 8.4653%
Of the 292 competitive bids totaling Rs. 230.27 billion received, 101 were accepted for Rs. 69.78 billion. Five non-competitive bids were received and accepted for Rs. 225 million.
The bank priced a Rs. 20 billion re-issue of its 9.2% bonds due 2030 at a cut-off price of 104.54 to yield 8.6688%.
Of the 144 competitive bids totaling Rs. 77.21 billion received, 37 were accepted for Rs. 19.90 billion. Four non-competitive bids were received and accepted for Rs. 97 million.
The bank also priced a Rs. 30 billion re-issue of its 9.23% bonds due 2044 at a cut-off price of 105.79 to yield 8.6793%.
Of the 132 competitive bids totaling Rs. 67.57 billion received, 74 were accepted for Rs. 29.98 billion. Two non-competitive bids were received and accepted for Rs. 22.2 million.
| Issuer: | Reserve Bank of India
|
| Total amount: | Rs. 150 billion
|
| Issue: | Government stock
|
| Auction date: | Oct. 10
|
|
|
| Bonds due 2020
|
| Amount: | Rs. 30 billion
|
| Maturity: | 2020
|
| Coupon: | 8.27%
|
| Cut-off price: | 98.68
|
| Yield: | 8.5651%
|
|
|
| Bonds due 2024
|
| Amount: | Rs. 70 billion
|
| Maturity: | 2024
|
| Coupon: | 8.4%
|
| Cut-off price: | 99.55
|
| Yield: | 8.4653%
|
|
|
| Bonds due 2030
|
| Amount: | Rs. 20 billion
|
| Maturity: | 2030
|
| Coupon: | 9.2%
|
| Cut-off price: | 104.54
|
| Yield: | 8.6688%
|
|
|
| Bonds due 2044
|
| Amount: | Rs. 30 billion
|
| Maturity: | 2044
|
| Coupon: | 9.23%
|
| Cut-off price: | 105.79
|
| Yield: | 8.6793 %
|
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