By Tali Rackner
Minneapolis, Oct. 6 – The Reserve Bank of India auctioned Rs. 130 billion of government stock in three tranches on Friday, according to a government announcement.
The bank priced a Rs. 30 billion re-issue of its 6.84% bonds due 2022 at a cut-off price of 100.49 to yield 6.7236%.
Of the 95 competitive bids totaling Rs. 110.89 billion received, 27 were accepted for Rs. 29.96 billion. Two non-competitive bids were received and accepted for Rs. 40 million.
The bank also priced an Rs. 80 billion re-issue of its 6.68% bonds due 2031 at a cut-off price of 97.37 to yield 6.9744%.
Of the 243 competitive bids totaling Rs. 220.71 billion received, 129 were accepted for Rs. 89.9 billion. Seven non-competitive bids were received and accepted for Rs. 105 million.
The bank priced a Rs. 20 billion re-issue of its 6.62% bonds due 2051 at a cut-off price of 91.25 to yield 7.3198%.
Of the 52 competitive bids totaling Rs. 51.18 billion received, one was accepted for Rs. 19.96 billion. Three non-competitive bids were received and accepted for Rs. 45 million.
The bank also priced a Rs. 20 billion re-issue of its 6.57% bonds due 2033. It received 88 competitive bids totaling Rs. 43.43 billion but accepted none.
| Issuer: | Reserve Bank of India
|
| Total amount: | Rs. 130 billion
|
| Issue: | Government stock
|
| Auction date: | Oct. 6
|
|
|
| Bonds due 2022
|
| Amount: | Rs. 30 billion
|
| Maturity: | 2022
|
| Coupon: | 6.84%
|
| Cut-off price: | 100.49
|
| Yield: | 6.7236%
|
|
|
| Bonds due 2031
|
| Amount: | Rs. 80 billion
|
| Maturity: | 2031
|
| Coupon: | 6.68%
|
| Cut-off price: | 97.37
|
| Yield: | 6.9774%
|
|
|
| Bonds due 2051
|
| Amount: | Rs. 20 billion
|
| Maturity: | 2051
|
| Coupon: | 6.62%
|
| Cut-off price: | 91.25
|
| Yield: | 7.3198%
|
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