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RBI may set cut-off yield on 10-year bonds at 7.69-7.72%
By
Rishabh Raj
Nov 13, 2023
01:29 pm
What's the story
In a move to raise funds, Indian states are set to conduct a bond sale with maturities ranging from 10 to 30 years.
The goal is to secure a total sum of Rs. 12,500 crore, according to a report by Reuters.
The Reserve Bank of India (RBI) is anticipated to set a cut-off yield for 10-year state bonds within the 7.69% to 7.72% range.
Details
Expected cut-off yields for different bond maturities
The quantum targeted for the 10-11-year bonds is Rs. 66 billion, with a specified yield range of 7.69% to 7.72%.
The 12-19 year bonds segment is aimed at raising Rs. 48 billion, with a yield range of 7.70% to 7.74%.
With a quantum of Rs. 11 billion, the yield for 30-year bonds is set at 7.61%, falling within a tight range of 7.60% to 7.62%.