India to sell 150b rupees of debt on Dec 30

NEW DELHI, Dec 26 (Reuters): India will sell 150 billion rupees ($2.9 billion) of bonds on Dec. 30 in an unscheduled auction to partially offset a 40 billion rupee auction cancelled last month and to fund an "emerging cash requirement", the Finance Ministry said. The government will sell 30 billion rupees each of 7.99 per cent 2017 bonds, 8.28 per cent 2027 bonds and 8.83 per cent 2041 bonds, as well as 60 billion rupees of 9.15 per cent 2024 bonds, the ministry said in a statement Monday. "The announcement of unscheduled government borrowings will put upward pressure on the yield curve," said Shakti Satapathy, a fixed-income strategist at AK Capital.