Islamabad, Aug 2: Pakistan Investment Bonds (PIBs) with a total value of Rs 140.69 billion were offered by the State Bank of Pakistan (SBP). With a maturity amount of Rs 429 billion, the auction’s goal was to raise Rs 125 billion.
The central bank issued data indicating that the SBP accepted Rs140.69 billion of the total amount offered in the auction, which totaled Rs205.63 billion. Bids totaling Rs 114.88 billion, Rs 53.5 billion, and Rs 37.25 billion for 3-year, 5-year, and 10-year bonds were received by the SBP. It rejected all bids for the 10-year bonds and approved Rs. 100.03 billion for the 3-year bonds and Rs. 32.38 billion for the 5-year bonds.
For the 3-year bond, the cut-off yield was 16.2500% (-35 basis points), while for the 5-year bond, it was 15.2900% (-16 basis points). Bids for 10-year bonds were rejected.The total sum accepted was Rs140.69 billion after the SBP also received Rs8.28 billion via the non-competitive auction.
The SBP sold PIBs for Rs 81 billion in the last auction, which took place on July 9, 2024, compared to a target of Rs 190 billion. Bids for 10-year bonds were turned down, and the cut-off rates for 3- and 5-year bonds were 16.6% and 15.45%, respectively.
