Bloomberg News

Primary Dealers Buy 40.38 Billion Rupees of India Bonds at Sales

October 14, 2011

Oct. 14 (Bloomberg) -- Primary dealers bought 40.38 billion rupees of unsold debt at auctions as the government raised 130 billion rupees ($2.7 billion) by selling bonds maturing in 2018, 2021 and 2027, the central bank said.

India sold 40 billion rupees of the 7.83 percent bond maturing in 2018 bond at a yield of 8.7939 percent, or a price of 95.31 rupees per 100 rupee face amount, the Reserve Bank of India said in an e-mailed statement today. It also auctioned 60 billion rupees of 7.80 percent 2021 notes at 8.7844 percent and 30 billion rupees of 8.26 percent 2027 bonds at 8.9491 percent.

Primary dealers bought 16.14 billion rupees of the 2018 bond and 24.24 billion rupees of the 2021 notes.

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

To contact the editor responsible for this story: V Ramakrishnan at rvenkatarama@bloomberg.net


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