Bloomberg News

Nine Indian States Sell 77.4 Billion Rupees of 10-Year Debt

October 04, 2011

Oct. 4 (Bloomberg) -- Nine Indian states raised a total 77.4 billion rupees selling 10-year bonds, less than the planned 82 billion rupees, the Reserve Bank of India said in an e-mailed statement today.

The states of Himachal Pradesh, Kerala, Rajasthan and Tamil Nadu borrowed at a cut-off yield of 8.85 percent while Gujarat agreed to pay 8.88 percent, according to the statement. Bihar and Maharashtra sold the debt at 8.89 percent while Andhra Pradesh and Uttar Pradesh set the rate at 8.90 percent.

To contact the reporter on this story: Jeanette Rodrigues in Mumbai at jrodrigues26@bloomberg.net

To contact the editor responsible for this story: Anil Varma at avarma3@bloomberg.net


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