By Sarah Lizee
Olympia, Wash., Feb. 9 – The Reserve Bank of India auctioned Rs. 110 billion of GOI floating-rate bonds and government stock in two tranches on Friday, according to a government announcement.
The bank priced a Rs. 30 billion re-issue of its GOI floating-rate bonds due 2024 at a cut-off price of 96.85 to yield 7.074%.
Of the 47 competitive bids totaling Rs. 292,919,300,000 received, four were accepted for Rs. 30 billion. No non-competitive bid were received or accepted.
The bank also priced an Rs. 80 billion re-issue of its 7.17% bonds due 2028 at a cut-off price of 97.85 to yield 7.4797%.
Of the 248 competitive bids totaling Rs. 204.9 billion received, 106 were accepted for Rs. 79,918,750,000. Six non-competitive bids were received and accepted for Rs. 81,250,000.
| Issuer: | Reserve Bank of India
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| Total amount: | Rs. 110 billion
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| Issue: | Government stock, GOI floating-rate bonds
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| Auction date: | Feb. 9
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| Bonds due 2024
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| Amount: | Rs. 30 billion
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| Maturity: | 2024
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| Coupon: | GOI floating-rate
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| Cut-off price: | 96.85
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| Yield: | 7.074%
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|
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| Bonds due 2028
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| Amount: | Rs. 80 billion
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| Maturity: | 2028
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| Coupon: | 7.17%
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| Cut-off price: | 97.85
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| Yield: | 7.4797%
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