MUMBAI: The authorities on Friday launched for the primary time a 50-year bond price Rs 10,000 crore, which noticed over fourfold demand. The bonds had been auctioned by RBI as a part of the federal government’s weekly market borrowing programme. The reduce off yield for these bonds was 7.46% every year, RBI knowledge confirmed.
To this point 40-year authorities securities(G-Secs) had been those with the longest maturity profile in India.The federal government stated within the final week of September that it could introduce 50-year gilts. Market gamers had stated that demand for ultra-long papers from insurance coverage firms had prompted the federal government to introduce these bonds.
On Friday, in opposition to an public sale quantity of Rs 10,000 crore, the full demand for these bonds, from 216 bids, had been price Rs 40,200 crore, RBI knowledge confirmed. These papers had been allotted for 58 bids.
When the federal government introduced its borrowing calendar for the second half of the present fiscal in September it stated that 50-year gilts price Rs 30,000 crore, unfold over three months, will likely be auctioned earlier than the top of the fiscal in March 2024.
The federal government had additionally stated that for the primary time it could introduce sovereign inexperienced bonds in its weekly auctions. The primary one is ready to be launched subsequent week. Unfold over 4 months, inexperienced bonds price Rs 20,000 crore is ready to be supplied in auctions, the federal government’s borrowing calendar confirmed.
To this point 40-year authorities securities(G-Secs) had been those with the longest maturity profile in India.The federal government stated within the final week of September that it could introduce 50-year gilts. Market gamers had stated that demand for ultra-long papers from insurance coverage firms had prompted the federal government to introduce these bonds.
On Friday, in opposition to an public sale quantity of Rs 10,000 crore, the full demand for these bonds, from 216 bids, had been price Rs 40,200 crore, RBI knowledge confirmed. These papers had been allotted for 58 bids.
When the federal government introduced its borrowing calendar for the second half of the present fiscal in September it stated that 50-year gilts price Rs 30,000 crore, unfold over three months, will likely be auctioned earlier than the top of the fiscal in March 2024.
The federal government had additionally stated that for the primary time it could introduce sovereign inexperienced bonds in its weekly auctions. The primary one is ready to be launched subsequent week. Unfold over 4 months, inexperienced bonds price Rs 20,000 crore is ready to be supplied in auctions, the federal government’s borrowing calendar confirmed.
