By Richard Connell
New York, Aug. 20 - The Reserve Bank of India sold Rs. 120 billion of government bonds at auction in three tranches on Friday.
The bank sold a Rs. 40 billion add-on to its 7.46% bonds due 2017 at a cut-off price of 97.16 to yield 7.9965%.
Of the 136 competitive bids totaling Rs. 96.595 billion received, 65 bids were accepted for Rs. 39.9 billion. Also, five non-competitive bids were received and accepted for Rs. 100 million.
The bank also sold a Rs. 50 billion add-on to its 8.13% bonds due 2022 at a cut-off price of 101.07 to yield 7.9889%.
Of the 179 competitive bids totaling Rs. 101.68 billion received, 97 bids were accepted for Rs. 49,789,900,000. Also, seven non-competitive bids were received and accepted for Rs. 210.1 million.
In a third tranche, the bank sold a Rs. 30 billion add-on to its 8.3% bonds due 2040 at a cut-off price of 98.9 to yield 8.3995%.
Of the 110 competitive bids totaling Rs. 64,493,650,000 received, 49 bids were accepted for Rs. 29.905 billion. Also, four non-competitive bids were received and accepted for Rs. 95 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: | Aug. 20
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Bonds due 2017
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Amount: | Rs. 40 billion
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Maturity: | 2017
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Coupon: | 7.46%
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Cut-off price: | 97.16
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Yield: | 7.9965%
|
|
Bonds due 2022
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Amount: | Rs. 50 billion
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Maturity: | 2022
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Coupon: | 8.13%
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Cut-off price: | 101.07
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Yield: | 7.9889%
|
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Bonds due 2040
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Amount: | Rs. 30 billion
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Maturity: | 2040
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Coupon: | 8.3%
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Cut-off price: | 98.9
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Yield: | 8.3995%
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