The government plans to sell ₹10,000 crore of a 2073 bond on Friday, according to the Reserve Bank of India. Bajaj Allianz Life Insurance Co. Ltd. and HDFC Life Insurance Co. Ltd. anticipate demand for the paper will be strong as insurers try to lock in higher yields to take care of long-term commitments.
“All of us would want to buy some of those 50-year bonds to cover the asset-liability mismatch," said Sampath Reddy, chief investment officer at Bajaj Allianz. The long bond “will help us manage interest rate risks better for our portfolios."
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