Govt to raise Rs 10,000 cr via bonds
The government on Friday said it would raise Rs 10,000 crore by selling two kinds of bonds with a maturity period of nine and twenty-seven years, respectively.
By PTI |
NEW DELHI: The government on Friday said it would raise Rs 10,000 crore by selling two kinds of bonds with a maturity period of nine and twenty-seven years, respectively.
About Rs 6,000 crore would be raised through a paper carrying 7.46 per cent coupon rate and maturing in 2017, while Rs 4,000 crore would be mopped up by bonds, fetching 7.40 per cent returns on maturity in 2035, the government said in two separate statements.
The result of the bond auctions will be announced on January 2, 2009, and payment by successful bidders will be done on January 5 .
Meanwhile, the government will prematurely repurchase a market stabilisation scheme (MSS) bonds worth Rs 10,000 crore to infuse liquidity into the market.
The two kinds of MSS bonds will infuse Rs 5,000 crore each into the system.
One of the bonds carries coupon rate of 5.87 per cent and another 7.55 per cent. Both the bonds would be matured in 2010.
MSS bonds are issued to suck liquidity from the system.
About Rs 6,000 crore would be raised through a paper carrying 7.46 per cent coupon rate and maturing in 2017, while Rs 4,000 crore would be mopped up by bonds, fetching 7.40 per cent returns on maturity in 2035, the government said in two separate statements.
The result of the bond auctions will be announced on January 2, 2009, and payment by successful bidders will be done on January 5 .
Meanwhile, the government will prematurely repurchase a market stabilisation scheme (MSS) bonds worth Rs 10,000 crore to infuse liquidity into the market.
The two kinds of MSS bonds will infuse Rs 5,000 crore each into the system.
One of the bonds carries coupon rate of 5.87 per cent and another 7.55 per cent. Both the bonds would be matured in 2010.
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MSS bonds are issued to suck liquidity from the system.
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