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The bank offered a billion rupees worth of paper and received offers worth 1,360 million rupees, which carried a coupon rate of 7.50 percent.
Three-year paper currently trades at around 11.
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30 percent in the secondary market.
Last Wednesday, the bank sold three-year yield 10.87 percent, higher than 10.85 percent sold at the previous auction, Market players said that the bank was expecting bids lower than 11.
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00 percent, which may have been the reason to call the auction off.
- LBO Newsdesk