Non-competitive bidding facility expands retail participation in government securities auctions, enabling reserved allotment under set operational rules. The notification reissues 7.56% Government Stock, 2014 by a price-based multiple-price auction with defined allotment and payment dates, eligibility for when-issued trading, six-year tenure from original issue, semiannual interest at 7.56% and repayment at par. Up to five percent of the notified amount is reserved for a Non-competitive Bidding Facility permitting eligible investors without current or SGL accounts to submit a single bid through an intermediary, with allotment at the weighted average auction yield, pro rata distribution if oversubscribed, and operational requirements for intermediaries on aggregation, SGL crediting, transfer timelines, service charges and reporting.
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Non-competitive bidding facility expands retail participation in government securities auctions, enabling reserved allotment under set operational rules.
The notification reissues 7.56% Government Stock, 2014 by a price-based multiple-price auction with defined allotment and payment dates, eligibility for when-issued trading, six-year tenure from original issue, semiannual interest at 7.56% and repayment at par. Up to five percent of the notified amount is reserved for a Non-competitive Bidding Facility permitting eligible investors without current or SGL accounts to submit a single bid through an intermediary, with allotment at the weighted average auction yield, pro rata distribution if oversubscribed, and operational requirements for intermediaries on aggregation, SGL crediting, transfer timelines, service charges and reporting.
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