Islamabad, Sep 17: For the 13th GOP Ijarah Sukuk (GIS) auction at the Pakistan Stock Exchange (PSX) on September 16, 2024, the government, through the Ministry of Finance, raised Rs. 202 billion as opposed to the original objective of Rs. 250 billion.
The total amount of bids received was Rs. 691.25 billion.With a 99 basis point decline, the Fixed Rate Discounted 1-year rate came in at 15 percent.
The 3-year cute-off rate for the Fixed Rental Rate (FRR) is 13.89 percent, which is 111.17 basis points less than the previous rate. The 5-year FRR cut-off rate has decreased by 53.50 basis points to 13.8450 percent. Furthermore, the 10-year FRR, which was a novel issue, was 13.0422 percent.
The reference rate for the variable rental rate category is 17.6183 percent. The VRR rate over three years was 17.3183 percent. With a 0.13 percent reduction, the 5-year VRR was 17.4883 percent. The 10-year VRR, which is also a new issue, is 17.6183 percent, matching the reference rate.
