By Richard Connell
New York, April 9 - The Reserve Bank of India sold Rs. 120 billion of government bonds in two tranches on Thursday.
The bank sold a Rs. 80 billion add-on to its 6.05% bonds due 2019 at a cut-off price of 95.05 to yield 6.7467%.
Of the 311 competitive bids totaling Rs. 216,409,410,000 received, 73 bids were accepted for Rs. 79.9 billion. Also, six non-competitive bids were received and accepted for Rs. 100 million.
The bank also sold a Rs. 40 billion add-on to its 7½% bonds due 2034 at a cut-off price of 97.35 to yield 7.7387%.
Of the 158 competitive bids totaling Rs. 109,139,080,000 received for this tranche, 90 bids were accepted for Rs. 39.945 billion. Also, four non-competitive bids were received and accepted for Rs. 55 million.
Issuer: | Reserve Bank of India
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Total amount: | Rs. 120 billion
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Issue: | Government bonds
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Auction date: | April 9
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Bonds due 2019 (Re-issue)
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Amount: | Rs. 80 billion
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Maturity: | 2019
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Coupon: | 6.05%
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Cut-off price: | 95.05
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Yield: | 6.7467%
|
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Bonds due 2034 (Re-issue)
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Amount: | Rs. 40 billion
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Maturity: | 2034
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Coupon: | 7½%
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Cut-off price: | 97.35
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Yield: | 7.7387%
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