By Wendy Van Sickle
Columbus, Ohio, Nov. 6 – The Reserve Bank of India auctioned Rs. 160 billion of government stock in five tranches on Friday, according to a government announcement.
The bank priced a Rs. 20 billion re-issue of its 7.68% instrument bonds due 2023 at a cut-off price of 99.83 to yield 7.7066%.
Of the 126 competitive bids totaling Rs. 86.7 billion received, two were accepted for Rs. 19.91 billion. Five non-competitive bids were received and accepted for Rs. 88.5 million.
The bank also priced a Rs. 70 billion re-issue of its 7.59% bonds due 2029 at a cut-off price of 99.06 to yield 7.7035%.
Of the 194 competitive bids totaling Rs. 176.77 billion received, 76 were accepted for Rs. 69.91 billion. Five non-competitive bids were received and accepted for Rs. 90 million.
The bank priced a Rs. 30 billion re-issue of its 7.73% bonds due 2034 at a cut-off price of 99 to yield 7.8312%.
Of the 104 competitive bids totaling Rs. 49.75 billion received, 89 were accepted for Rs. 29.87 billion. Seven non-competitive bids were received and accepted for Rs. 130 million.
The bank also priced a Rs. 20 billion re-issue of its 8.17% bonds due 2044 at a cut-off price of 103.52 to yield 7.8596%.
Of the 97 competitive bids totaling Rs. 55.52 billion received, two were accepted for Rs. 19.97 billion. Three non-competitive bids were received and accepted for Rs. 30 million.
The bank also priced a Rs. 10 billion re-issue of its 7.72% bonds due 2055 at a cut-off price of 100.74 to yield 7.66%.
Of the 88 competitive bids totaling Rs. 37.37 billion received, two were accepted for Rs. 10 billion.
| Issuer: | Reserve Bank of India
|
| Total amount: | Rs. 160 billion
|
| Issue: | Government stock
|
| Auction date: | Nov. 6
|
|
|
| Bonds due 2023
|
| Amount: | Rs. 20 billion
|
| Maturity: | 2023
|
| Coupon: | 7.68%
|
| Cut-off price: | 99.83
|
| Yield: | 7.7066%
|
|
|
| Bonds due 2029
|
| Amount: | Rs. 70 billion
|
| Maturity: | 2029
|
| Coupon: | 7.59%
|
| Cut-off price: | 99.06
|
| Yield: | 7.7035%
|
|
|
| Bonds due 2034
|
| Amount: | Rs. 30 billion
|
| Maturity: | 2034
|
| Coupon: | 7.73%
|
| Cut-off price: | 99
|
| Yield: | 7.8312%
|
|
|
| Bonds due 2044
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| Amount: | Rs. 20 billion
|
| Maturity: | 2044
|
| Coupon: | 8.17%
|
| Cut-off price: | 103.52
|
| Yield: | 7.8596%
|
|
|
| Bonds due 2055
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| Amount: | Rs. 10 billion
|
| Maturity: | 2055
|
| Coupon: | 7.72%
|
| Cut-off price: | 100.74
|
| Yield: | 7.66%
|
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