By Tali Rackner
Norfolk, Va., Jan. 20 – The Reserve Bank of India auctioned Rs. 110 billion of government stock and floating-rate bonds in four tranches on Friday, according to a government announcement.
The bank priced a Rs. 20 billion re-issue of its Government of India floating-rate bonds due 2024 at a cut-off price of 96.91 to yield 6.8347%.
Of the 51 competitive bids totaling Rs. 84.63 billion received, six were accepted for Rs. 20 billion. No non-competitive bids were received or accepted.
The bank also priced a Rs. 50 billion re-issue of its 6.79% bonds due 2029 at a cut-off price of 101.21 to yield 6.6482%.
Of the 124 competitive bids totaling Rs. 99.49 billion received, 86 were accepted for Rs. 49.75 billion. Fourteen non-competitive bids were received and accepted for Rs. 245.86 million.
The bank priced a Rs. 20 billion re-issue of its 6.57% bonds due 2033 at a cut-off price of 97.27 to yield 6.8443%.
Of the 126 competitive bids totaling Rs. 70.69 billion received, four were accepted for Rs. 19.77 billion. Eleven non-competitive bids were received and accepted for Rs. 230 million.
The bank also priced a Rs. 20 billion re-issue of its 6.62% bonds due 2051 at a cut-off price of 95.18 to yield 6.9898%.
Of the 72 competitive bids totaling Rs. 54.38 billion received, one was accepted for Rs. 19.87 billion. Seven non-competitive bids were received and accepted for Rs. 130 million.
| Issuer: | Reserve Bank of India
|
| Total amount: | Rs. 110 billion
|
| Issue: | Government stock, floating-rate bonds
|
| Auction date: | Jan. 20
|
|
|
| Bonds due 2024
|
| Amount: | Rs. 20 billion
|
| Maturity: | 2024
|
| Coupon: | GOI floating-rate
|
| Cut-off price: | 96.91
|
| Yield: | 6.8347%
|
|
|
| Bonds due 2029
|
| Amount: | Rs. 50 billion
|
| Maturity: | 2029
|
| Coupon: | 6.79%
|
| Cut-off price: | 101.21
|
| Yield: | 6.6482%
|
|
|
| Bonds due 2033
|
| Amount: | Rs. 20 billion
|
| Maturity: | 2033
|
| Coupon: | 6.57%
|
| Cut-off price: | 97.27
|
| Yield: | 6.8443%
|
|
|
| Bonds due 2051
|
| Amount: | Rs. 20 billion
|
| Maturity: | 2051
|
| Coupon: | 6.62%
|
| Cut-off price: | 95.18
|
| Yield: | 6.9898%
|
|
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