By Jennifer Chiou
New York, Nov. 4 - The Reserve Bank of India auctioned Rs. 70 billion of government bonds in two tranches on Friday, according to a press release.
The bank priced a Rs. 40 billion add-on to its 7.83% bonds due 2018 at a cut-off price of 95.03 to yield 8.8588%.
Of the 147 competitive bids totaling Rs. 72.53 billion received, 108 were accepted for Rs. 39.9 billion. Five non-competitive bids were received and accepted for Rs. 95.5 million.
The bank priced a Rs. 30 billion add-on to its 8.26% bonds due 2027 at a cut-off price of 93.82 to yield 8.9991%.
Of the 82 competitive bids totaling Rs. 60.81 billion received, 42 were accepted for Rs. 29.87 billion. Six non-competitive bids were received and accepted for Rs. 120.62 million.
| Issuer: | Reserve Bank of India
|
| Total amount: | Rs. 70 billion
|
| Issue: | Government bonds
|
| Auction date: | Nov. 4
|
|
|
| Bonds due 2018
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| Amount: | Rs. 40 billion
|
| Maturity: | 2018
|
| Coupon: | 7.83%
|
| Cut-off price: | 95.03
|
| Yield: | 8.8588%
|
|
|
| Bonds due 2027
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| Amount: | Rs. 30 billion
|
| Maturity: | 2027
|
| Coupon: | 8.26%
|
| Cut-off price: | 93.82
|
| Yield: | 8.9991%
|
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