India's first 50-year bond fully sold on growing insurer demand
The government sold 100 billion rupees ($1.2 billion) of the 2073 bond at a cutoff yield of 7.46%, the Reserve Bank of India said in a statement. That’s lower than the 7.48% forecast in a Bloomberg survey. Investors, including insurers, probably lapped up the paper as they had expressed strong interest before the auction to lock in higher yields to take care of long-term commitments.
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