Reserve Bank of India repurchases Rs. 26.57 billion government bonds

By Richard Connell

New York, Aug. 27 - The Reserve Bank of India bought back Rs. 26,568,050,000 of government bonds in three tranches via auctions on Thursday.

The bank repurchased Rs. 24,614,310,000 of 7.59% bonds due 2016 at a weighted average price of 102.03 with a weighted average yield of 7.1968%. The cut-off price was 102.12, and the cut-off yield 7.1798%.

The bank received 137 bids totaling Rs. 65.918 billion, of which 26 bids were accepted.

In a second tranche, the bank repurchased Rs. 1,953,740,000 of 8.35% bonds due 2022 at a weighted average price of 104.33 and a weighted average yield of 7.8048%. The cut-off price was 104.77, and the cut-off yield was 7.7509%.

For this tranche, the bank received 25 bids totaling Rs. 6,442,910,000, of which 10 bids were accepted.

In the third tranche, the bank received 16 bids totaling Rs. 12,745,040,000, for its 7½% bonds due 2034 but accepted none of the bids.

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