Kerala   

Sale of securities

THIRUVANANTHAPURAM: The State government has issued a notification for the sale of securities of 10-year tenure for an aggregate sum of Rs.637.228 crore. The proceeds of the sale will be utilised for financing the developmental activities of the State, an official press release said on Tuesday. The government securities will be sold through the Mumbai office of Reserve Bank of India. The auction is scheduled to take place on February 15. The loan will be repaid at par on February 18, 2018. The cut-off yield determined at the auction will be the coupon rate per cent per annum on the stock sold at the auction. Interest will be paid half-yearly on August 18 and February 18. — Special Correspondent

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