India states to sell 251 billion rupees bonds Tuesday; RBI seen setting 7.88%-7.92% yields for 9-10 yr

Indian states will aim to raise an aggregate of 251 billion rupees ($2.60 billion) on Tuesday through a sale bonds maturing in five years to 30 years. The Reserve Bank of India will likely set cutoff yields for the 9-10 year bonds in the 7.88%-7.92% band, according to a Reuters poll of 11 traders.