By Sarah Lizee
Olympia, Wash., April 26 – The Reserve Bank of India auctioned Rs. 120 billion of government stock in four tranches on Thursday, according to a government announcement.
The bank priced a Rs. 30 billion re-issue of 7.37% bonds due 2023 at a cut-off price of 98.58 to yield 7.7185%.
Of the 106 competitive bids totaling Rs. 78.95 billion received, one was accepted for Rs. 250 million. Six non-competitive bids were received and accepted for Rs. 181.21 million.
The bank also priced a Rs. 40 billion re-issue of its 6.68% bonds due 2031 at a cut-off price of 89.41 to yield 7.9803%.
Of the 188 competitive bids totaling Rs. 113,475,000,000 received, 79 were accepted for Rs. 39,907,180,000. Eight non-competitive bids were received and accepted for Rs. 92.82 million.
The bank priced a Rs. 20 billion re-issue of its 7.4% bonds due 2035 at a cut-off price of 94.59 to yield 7.9795%.
Of the 68 competitive bids totaling Rs. 50.98 billion received, five were accepted for Rs. 19,923,240,000. The bank received and accepted seven non-competitive bids for Rs. 76.76 million.
The bank also priced a Rs. 30 billion re-issue of its 6.62% bonds due 2051 at a cut-off price of 84.18 to yield 7.9799%.
Of the 104 competitive bids totaling Rs. 79.02 billion received, 36 were accepted for Rs. 29,959,810,000. Four non-competitive bids were received and accepted for Rs. 40.19 million.
| Issuer: | Reserve Bank of India
|
| Total amount: | Rs. 120 billion
|
| Issue: | Government stock
|
| Auction date: | April 26
|
|
|
| Bonds due 2023
|
| Amount: | Rs. 30 billion
|
| Maturity: | 2023
|
| Coupon: | 7.37%
|
| Cut-off price: | 98.58
|
| Yield: | 7.7185%
|
|
|
| Bonds due 2031
|
| Amount: | Rs. 40 billion
|
| Maturity: | 2031
|
| Coupon: | 6.68%
|
| Cut-off price: | 89.41
|
| Yield: | 7.9803%
|
|
|
| Bonds due 2035
|
| Amount: | Rs. 20 billion
|
| Maturity: | 2035
|
| Coupon: | 7.4%
|
| Cut-off price: | 94.59
|
| Yield: | 7.9795%
|
|
|
| Bonds due 2051
|
| Amount: | Rs. 30 billion
|
| Maturity: | 2051
|
| Coupon: | 6.62%
|
| Cut-off price: | 84.18
|
| Yield: | 7.9799%
|
|
|
|
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