Reserve Bank of India repurchases Rs. 46.2 billion government bonds

By Richard Connell

New York, June 18 - The Reserve Bank of India bought back Rs. 46.2 billion of government bonds in three tranches via auctions on Thursday.

The bank repurchased Rs. 29.25 billion of 7.38% bonds due 2015 at a cut-off price of 103.54 to yield 6.6711%.

The bank received 82 bids totaling Rs. 32.85 billion, of which 26 bids were accepted.

In a second tranche, the bank repurchased Rs. 15 billion of 8.35% bonds due 2022 at a cut-off price of 107.38 to yield 7.4485%.

For this tranche, the bank received 18 bids totaling Rs. 19.3 billion, of which 10 bids were accepted.

In the third tranche, the bank repurchased Rs. 1.95 billion of 8.33% bonds due 2036 at a cut-off price of 105.34 to yield 7.8503%.

For this tranche, the bank received 12 bids totaling Rs. 5.2 billion, of which two bids were accepted.

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