Reserve Bank of India repurchases Rs. 29.58 billion government bonds

By Richard Connell

New York, Aug. 6 - The Reserve Bank of India bought back Rs. 29,576,140,000 of government bonds in three tranches via auctions on Thursday.

The bank repurchased Rs. 13,785,390,000 of 7.38% bonds due 2015 at a weighted average price of 101.81 with a weighted average yield of 7.0076%. The cut-off price was 102.1, and the cut-off yield 6.9486%.

The bank received 42 bids totaling Rs. 22,235,390,000, of which 20 bids were accepted.

In a second tranche, the bank repurchased Rs. 6,621,120,000 of 6.05% bonds due 2019 at a weighted average price of 92.61 and a weighted average yield of 7.1346%. The cut-off price was 92.9, and the cut-off yield 7.0907%.

For this tranche, the bank received 55 bids totaling Rs. 29,341,112,000, of which 31 bids were accepted.

In the third tranche, the bank repurchased Rs. 9,169,630,000 of 7.95% bonds due 2032 at a weighted average price of 100.16 and a weighted average yield of 7.9279%. The cut-off price was 100.60, and the cut-off yield 7.886%.

For this tranche, the bank received 46 bids totaling Rs. 22,810,330,000, of which 25 bids were accepted.

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