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MARKET EYE-India may issue new paper in 10-14 yr segment - dealers
August 5, 2013 / 5:23 AM / 4 years ago

MARKET EYE-India may issue new paper in 10-14 yr segment - dealers

* Indian bond dealers expect new issuance in 10-14 year segment
as both 8.20 pct 2025 bond and 8.33 pct 2026 bond
 are seen as having reached their traditional
issuance limit.
* Issuances in both the 2025 and 2026 bonds have reached around
840 billion rupees each, levels at which India has typically
issued new debt.
* For example, new issuance in the 8.15 pct 2022 bond
 was discontinued after issuance of 830 billion
rupees.
* The 8.20 pct 2025 bond was last at 8.57 pct, down 7 bps, while
the 8.33 pct 2026 bond was down 6 bps at 8.63 pct.
* India to detail bond sale for week later in the day with 60-70
billion rupees slated in the 10-14 year bucket.
* Any new issuance would come as investors are demanding higher
yields due to a slump in debt prices since the RBI unveiled
cash-draining steps last month.

 (subhadip.sircar@thomsonreuters.com/subhadip.sircar.thomsonreut
ers.com@reuters.net)

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