Auction for Sale (Re-issue) of Government of India Floating Rate Bonds 2024 - ଆରବିଆଇ - Reserve Bank of India
Auction for Sale (Re-issue) of Government of India Floating Rate Bonds 2024
Government of India New Delhi, dated April 17, 2017 NOTIFICATION Auction for Sale (Re-issue) of Government of India Floating Rate Bonds 2024 F. No.4 (7) W&M/2017: Government of India hereby notifies sale (re-issue) of Floating Rate Bonds (hereinafter called 'the Bonds') for an aggregate amount of ₹ 3,000 crore (nominal). The sale will be subject to the terms and conditions spelt out in this notification (called ‘Specific Notification’) as also the terms and conditions specified in the General Notification F. No. 4 (13)–W&M/2008, dated October 8, 2008 issued by Government of India. Method of Issue Allotment to Non-competitive Bidders Place and date of auction When Issued Trading Tenure Date of issue and payment for the stock Interest (ii) The variable coupon rate for payment of interest on subsequent semi-annual period shall be the average rate rounded off up to two decimal places, of the implicit yields at the cut-off prices of the last three auctions of Government of India 182 day Treasury Bills, held up to the commencement of the respective semi-annual coupon period. The implicit yields will be computed by reckoning 365 days in a year. (iii) In the event of Government of India 182-day Treasury Bill auctions being discontinued during the currency of the Bonds, the coupon rate will be the average of Yield to Maturity (YTM) rates prevailing for six month Government of India Security/ies as on the last three non-reporting Fridays prior to the commencement of the semi-annual coupon period. In case particular Friday/s is/are holiday/s, the yield to maturity rates as on the previous working day shall be taken. (iv) The rate of interest payable half yearly on the Bonds during the subsequent years shall be announced by the Reserve Bank of India before the commencement of the relative semi-annual coupon period. By Order of the President of India (Prashant Goyal) |