RBI to exchange G-secs worth Rs 30,000 crore maturing June for longer tenor papers
Market participants are required to place their bids in e-kuber.
By ETMarkets.com | Updated:
BCCL
Another Rs 4,000 crore of the same coupon bond will be exchanged for 7.19 per cent bonds maturing in September 2060.
Mumbai: The Indian government on Thursday announced the conversion/switch of its securities through auction for a total amount of Rs 30,000 crore of its securities maturing in June.
The auction, which will be held on May 18, will see Rs 26,000 crore of 8.27 per cent bonds that will be exchanged for longer dated notes of Rs 13,000 crore each, due in November 2024 and May 2030, bearing a coupon of 5.18 per cent and 5.79 per cent, respectively.
Another Rs 4,000 crore of the same coupon bond will be exchanged for 7.19 per cent bonds maturing in September 2060.
Market participants are required to place their bids in e-kuber and the auction would be a multiple-price based. Successful bids will get accepted at their respective quoted prices for the source and destination securities.
