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India cbank sets 7.34 pct coupon on 2020 FRB for half-year to Dec 20, 2013
June 20, 2013 / 11:49 AM / 4 years ago

India cbank sets 7.34 pct coupon on 2020 FRB for half-year to Dec 20, 2013

MUMBAI, June 20 (Reuters) - India’s central bank set a coupon of 7.34 percent on 2020 floating rate bonds (FRB) for the half year from June 21, 2013 to December 20, 2013, it said in a release on Thursday.

The rate of interest was based on the average rate of the implicit cut-off yields at the last three auctions of 182-day treasury bills up to June 21, the central bank said.

The implicit yield has been computed by reckoning 365 days in a year, and the coupon is fixed accordingly, the Reserve Bank of India said. (Reporting by Neha Dasgupta; Editing by Subhranshu Sahu)

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