By Marisa Wong
Madison, Wis., Feb. 10 - The Reserve Bank of India auctioned Rs. 120 billion of government bonds in three tranches on Friday, according to a government announcement.
The bank priced a Rs. 30 billion add-on to its 8.19% bonds due 2020 at a cut-off price of 99.47 to yield 8.2807%.
Of the 122 competitive bids totaling Rs. 58.78 billion received, 57 were accepted for Rs. 29.78 billion. Eight non-competitive bids were received and accepted for Rs. 215.3 million.
The bank also priced a Rs. 60 billion add-on to its 9.15% bonds due 2024 at a cut-off price of 106.41 to yield 8.3219%.
Of the 267 competitive bids totaling Rs. 137.19 billion received, 101 were accepted for Rs. 59.81 billion. Eight non-competitive bids were received and accepted for Rs. 185.5 million.
The bank priced a Rs. 30 billion add-on to its 8.97% bonds due 2030 at a cut-off price of 103.22 to yield 8.6187%.
Of the 136 competitive bids totaling Rs. 59.48 billion received, 92 were accepted for Rs. 29.83 billion. Ten non-competitive bids were received and accepted for Rs. 168.2 million.
| Issuer: | Reserve Bank of India
|
| Total amount: | Rs. 120 billion
|
| Issue: | Government bonds
|
| Auction date: | Feb. 10
|
|
|
| Bonds due 2020
|
| Amount: | Rs. 30 billion
|
| Maturity: | 2020
|
| Coupon: | 8.19%
|
| Cut-off price: | 99.47
|
| Yield: | 8.2807%
|
|
|
| Bonds due 2024
|
| Amount: | Rs. 60 billion
|
| Maturity: | 2024
|
| Coupon: | 9.15%
|
| Cut-off price: | 106.41
|
| Yield: | 8.3219%
|
|
|
| Bonds due 2030
|
| Amount: | Rs. 30 billion
|
| Maturity: | 2030
|
| Coupon: | 8.97%
|
| Cut-off price: | 103.22
|
| Yield: | 8.6187%
|
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