Govt has no plan to issue new 10-year bond

Govt has no plan to issue new 10-year bond
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First Published: Thu, Apr 08 2010. 12 25 AM IST
Updated: Thu, Apr 08 2010. 12 25 AM IST
New Delhi: India has no plans now to issue a new 10-year bond that would replace the benchmark 6.35% note, a finance ministry official with direct knowledge of the matter said.
Ten-year bond yields may rise as the government starts its annual borrowing program this week, though their level may be capped at 8%, the official, who didn’t want to be named, said in an interview in New Delhi. Record debt sales won’t add pressure on the bond market as auctions will be spread across 12 months starting 1 April, he said.
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First Published: Thu, Apr 08 2010. 12 25 AM IST