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New 10-year bond issue may be about 7%

The govt said it would issue a new 10-year benchmark on Friday, as the existing one - with a coupon of 7.59% - has nearly exhausted its perceived limit, after raising Rs 87,000 cr through the instrume

Anup Roy  |  Mumbai 

The new 10-year bond may be issued at around seven per cent, or lower — an indication rates in the economy have fallen to a multi-year low, even though banks are not passing on the rate benefit to their borrowers. The government, on Monday, said it would issue a new 10-year benchmark on Friday, as the existing one — with a coupon of 7.59 per cent — has nearly exhausted its perceived limit, after raising Rs 87,000 crore through the instrument.

The bond in question was issued on January 11 this year, the yield closed at 7.10 per cent. Coupon is the interest rate at ...

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First Published: Wed, August 31 2016. 00:15 IST