India to buy back bonds worth up to 250 bln rupees, cenbank says
BENGALURU, Oct 4 (Reuters) -India will buy back government bonds worth up to 250 billion rupees ($3 billion) on Oct. 10, the country's central bank said on Friday.
The securities offered for buyback are 7.72% 2025 Bond, 5.22% 2025 Bond, 8.20% 2025 Bond, 5.15% 2025 and 7.59% 2026 Bond, the Reserve Bank of India said in a statement.
This will be India's first bond buyback in the second half of the current fiscal year, after the country undertook multiple such repurchasesin the first half.
There is no notified amount for the individual securities and the auction will be conducted using the multiple price method, the RBI said.
In multiple price auctions, buyers are allotted bonds at the price they bid.
($1 = 84.0040 Indian rupees)
Reporting by Nishit Navin; Editing by Shreya Biswas
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