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| Govt sells Rs 15,000 cr of bonds, as planned: RBI |
| Bloomberg / May 29, 2009, 00:29 IST |
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India raised Rs 15,000 crore ($3.14 billion) by selling four bonds maturing between 2016 and 2035 at an auction, the central bank said.
The government sold a planned Rs 6,000 crore of 7.59 per cent notes due in 2016 at Rs 103.44 per 100-rupee face amount, or a yield of 6.9 per cent, the Reserve Bank of India said in a statement.
It sold Rs 3,000 crore each of 7.94 per cent notes due in 2021 at Rs 104.73, giving a 7.3 per cent yield, and 8.24 per cent notes due in 2027 at Rs 105.15, a 7.7 per cent yield.
The government also sold Rs 3,000 crore of 7.4 per cent bonds due in 2035 at Rs 95.66, or 7.7 per cent yield. Primary dealers, companies that underwrite government debt sales, had to buy Rs 370 crore of unsold 2035 securities.
Traders expected the government to sell the 2016 debt at Rs 102.75, the 2021 notes at Rs 104.92, the 2027 security at Rs 105.15 and the 2035 bonds at Rs 95.97, according to the median estimates in a Bloomberg News survey of 10 banks and securities companies.
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