By Tali Rackner
Norfolk, Va., Jan. 8 – 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 7.68% instrument bonds due 2023 at a cut-off price of 99.89 to yield 7.6973%.
Of the 140 competitive bids totaling Rs. 87.96 billion received, 45 were accepted for Rs. 19.93 billion. Five non-competitive bids were received and accepted for Rs. 74 million.
The bank also priced a Rs. 80 billion new issue of its 7.59% bonds due 2026.
Of the 220 competitive bids totaling Rs. 288.37 billion received, 110 were accepted for Rs. 79.52 billion. Five non-competitive bids were received and accepted for Rs. 485 million.
The bank priced a Rs. 20 billion re-issue of its 7.73% bonds due 2034 at a cut-off price of 97.48 to yield 7.9896%.
Of the 182 competitive bids totaling Rs. 85.29 billion received, two were accepted for Rs. 19.83 billion. Eight non-competitive bids were received and accepted for Rs. 170 million.
The bank also priced a Rs. 20 billion re-issue of its 7.72% bonds due 2055 at a cut-off price of 97.81 to yield 7.8998%.
Of the 51 competitive bids totaling Rs. 51.43 billion received, two were accepted for Rs. 20 billion. No non-competitive bids were accepted.
| Issuer: | Reserve Bank of India
|
| Total amount: | Rs. 140 billion
|
| Issue: | Government stock
|
| Auction date: | Jan. 8
|
|
|
| Bonds due 2023
|
| Amount: | Rs. 20 billion
|
| Maturity: | 2023
|
| Coupon: | 7.68%
|
| Cut-off price: | 99.89
|
| Yield: | 7.6973%
|
|
|
| Bonds due 2026
|
| Amount: | Rs. 80 billion
|
| Maturity: | 2026
|
| Coupon: | 7.59%
|
|
|
| Bonds due 2034
|
| Amount: | Rs. 20 billion
|
| Maturity: | 2034
|
| Coupon: | 7.73%
|
| Cut-off price: | 97.48
|
| Yield: | 7.9896%
|
|
|
| Bonds due 2055
|
| Amount: | Rs. 20 billion
|
| Maturity: | 2055
|
| Coupon: | 7.72%
|
| Cut-off price: | 97.81
|
| Yield: | 7.8998%
|
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