By Tali Rackner
Norfolk, Va., Dec. 4 – 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. 20 billion re-issue of its 7.35% instrument bonds due 2024 at a cut-off price of 97.46 to yield 7.7614%.
Of the 107 competitive bids totaling Rs. 64.92 billion received, 30 were accepted for Rs. 19.91 billion. Four non-competitive bids were received and accepted for Rs. 94.5 million.
The bank also priced a Rs. 70 billion re-issue of its 7.59% bonds due 2029 at a cut-off price of 98.48 to yield 7.7742%.
Of the 160 competitive bids totaling Rs. 124.73 billion received, 99 were accepted for Rs. 50.48 billion. Four non-competitive bids were received and accepted for Rs. 95 million. The issue was not fully subscribed.
The bank priced a Rs. 30 billion re-issue of its 8.24% bonds due 2033 at a cut-off price of 101.95 to yield 8.0318%.
Of the 107 competitive bids totaling Rs. 72 billion received, 38 were accepted for Rs. 29.85 billion. Seven non-competitive bids were received and accepted for Rs. 150 million.
The bank also priced a Rs. 30 billion re-issue of its 8.13% bonds due 2045 at a cut-off price of 101.28 to yield 8.0157%.
Of the 97 competitive bids totaling Rs. 61.31 billion received, 56 were accepted for Rs. 29.94 billion. Four non-competitive bids were received and accepted for Rs. 59.45 million.
| Issuer: | Reserve Bank of India
|
| Total amount: | Rs. 150 billion
|
| Issue: | Government stock
|
| Auction date: | Dec. 4
|
|
|
| Bonds due 2024
|
| Amount: | Rs. 20 billion
|
| Maturity: | 2024
|
| Coupon: | 7.35%
|
| Cut-off price: | 97.46
|
| Yield: | 7.7614%
|
|
|
| Bonds due 2029
|
| Amount: | Rs. 70 billion
|
| Maturity: | 2029
|
| Coupon: | 7.59%
|
| Cut-off price: | 98.48
|
| Yield: | 7.7742%
|
|
|
| Bonds due 2033
|
| Amount: | Rs. 30 billion
|
| Maturity: | 2033
|
| Coupon: | 8.24%
|
| Cut-off price: | 101.95
|
| Yield: | 8.0318%
|
|
|
| Bonds due 2045
|
| Amount: | Rs. 30 billion
|
| Maturity: | 2045
|
| Coupon: | 8.13%
|
| Cut-off price: | 101.28
|
| Yield: | 8.0157%
|
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