By Tali Rackner
Norfolk, Va., July 24 – The Reserve Bank of India auctioned Rs. 140 billion of government stock in four tranches on Friday, according to a government announcement.
The bank priced a Rs. 20 billion re-issue of its 7.35% instrument bonds due 2024 at a cut-off price of 95.99 to yield 7.9861%.
Of the 121 competitive bids totaling Rs. 66.42 billion received, 48 were accepted for Rs. 19.92 billion. Four non-competitive bids were received and accepted for Rs. 85 million.
The bank also priced a Rs. 60 billion re-issue of its 7.88% bonds due 2030 at a cut-off price of 98.81 to yield 8.0179%.
Of the 270 competitive bids totaling Rs. 230.93 billion received, 75 were accepted for Rs. 59.93 billion. Four non-competitive bids were received and accepted for Rs. 71.21 million.
The bank priced a Rs. 30 billion re-issue of its 7.95% bonds due 2032 at a cut-off price of 98.58 to yield 8.1037%.
Of the 120 competitive bids totaling Rs. 79.6 billion received, 46 were accepted for Rs. 29.83 billion. Nine non-competitive bids were received and accepted for Rs. 175.1 million.
The bank also priced a Rs. 30 billion re-issue of its 8.17% bonds due 2044 at a cut-off price of 100.97 to yield 8.0816%.
Of the 152 competitive bids totaling Rs. 101.24 billion received, 17 were accepted for Rs. 29.97 billion. Three non-competitive bids were received and accepted for Rs. 33 million.
| Issuer: | Reserve Bank of India
|
| Total amount: | Rs. 140 billion
|
| Issue: | Government stock
|
| Auction date: | July 24
|
|
|
| Bonds due 2024
|
| Amount: | Rs. 20 billion
|
| Maturity: | 2024
|
| Coupon: | 7.35%
|
| Cut-off price: | 95.99
|
| Yield: | 7.9861%
|
|
|
| Bonds due 2030
|
| Amount: | Rs. 60 billion
|
| Maturity: | 2030
|
| Coupon: | 7.88%
|
| Cut-off price: | 98.81
|
| Yield: | 8.0179%
|
|
|
| Bonds due 2032
|
| Amount: | Rs. 30 billion
|
| Maturity: | 2032
|
| Coupon: | 7.95%
|
| Cut-off price: | 98.58
|
| Yield: | 8.1037%
|
|
|
| Bonds due 2044
|
| Amount: | Rs. 30 billion
|
| Maturity: | 2044
|
| Coupon: | 8.17%
|
| Cut-off price: | 100.97
|
| Yield: | 8.0816%
|
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