India expected to sell 2017 bonds at 8 pc interest

India expected to sell 2017 bonds at 8 pc interest

JULY 6: India can pay 8% rate of interest on Rs 60 billion of 10-year bonds it is going to sell on today, according to the median estimate in a Bloomberg News surveyThe Rs 40 billion of 8.33% notes due June 2036 to be sold today will yield 8.42%, or a price of Rs 99.01, the survey showed. The 10-year arrears will be sold at face value.RBI is scheduled to issue the auction results about 5 pm Mumbai time. The maximum coupon forecast for the 2017 bond


in the survey of 11 banks and securities companies in Mumbai was 8.03% and the minimum 7.98%. The maximum yield for the 29-year bond was 8.45% and the minimum 8.37%.

The yield on the benchmark 8.07% bond due 2017 was 7.99% in the secondary market as of 12:05 pm in Mumbai, according to the RBI's trading system. The 2036 bond yielded 8.38%.


By Saniya Mehra