India sets higher than expected cut-off on 2024 bond: RBI

Friday, 04 May 2012 16:20

Posted by Muhammad Iqbal

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MUMBAI: India sold 180 billion rupees of bonds on Friday, and set a cut-off price of 103.25 rupees, yielding 8.7179 percent on the 9.15 percent 2024 bonds, the central bank said, higher than 8.6351 percent indicated in a Reuters poll.     

The cut-off price for the 8.19 percent 2020 bonds was 98.05 rupees, yielding 8.5373 percent, the Reserve Bank of India, lower than 8.5519 percent in the poll.      

For the 8.97 percent 2030 bonds, the cut-off price was 100.45 rupees, yielding 8.9185 percent, compared with 8.8744 percent in the poll.

The cut-off price for 8.83 percent 2041 bonds was 98.31 rupees, yielding 8.9926 percent, significantly higher than 8.9300 percent in the poll.