RECORDER REPORT
KARACHI: The State Bank of Pakistan Wednesday conducted the auction for Pakistan Investment Bonds (PIBs) and accepted bids amounting to Rs 51.695 billion against the target of Rs 100 billion.
In response to the tender, SBP received total Rs 175.460 billion (Rs 176 billion realized value) worth bids for the sale of 3-, 5- and 10-year long-term investment bonds. However, no bid was received for 20-year PIBs. Some Rs 96.41 billion bids were received for 3-year, Rs 70.15 billion for 5-year and Rs 8.9 billion for 10-year. Bids for the sale of 3- and 5-year long term investment bonds were accepted while bids for 10-year variety rejected.
Overall, some Rs 51.695 billion with total realized value of Rs 53.863 billion were accepted against the target of Rs 100 billion set for this auction. A cut-off yield of 8.0940 percent was set for 3-year PIBs with accepted amount of Rs 40.669 billion (total realized value). Some Rs 13.193 billion were accepted for 5-year long-term investment bond at a cut-off yield of 8.990 percent.
The SBP has issued the following:
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(Amount in PKR million)
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Tenor Face Value Realized Accrued Total Realized Price Range
Amount Interest Amount (per Rs.100)
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03 Years 96,410.000 97,728.730 2,588.542 100,317.272 101.79 – 100.48
05 Years 70,150.000 70,455.385 1,991.107 72,446.492 101.28 – 99.08
10 Years 8,900.000 8,669.225 266.268 8,935.493 99.30 – 95.48
20 Years
N O B I D R E C E I V E D
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Total 175,460.000 176,853.340 4,845.917 181,699.257
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Out of the above bids, the accepted bids were as under:
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(Amount in PKR million)
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Tenor Face Value Realized Accrued Total Realized Cut-off Price Cut-off Effective
Amount Interest Amount (per Rs.100) Yield (YTM) Weighted Average
%p.a. Yield %p.a.
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03 Years 38,995.000 39,623.010 1,046.989 40,669.999 101.54 8.0940 8.0647
05 Years 12,700.000 12,833.115 360.471 13,193.586 100.92 8.9990 8.9652
10 Years B I D S R E J E C T E D
20 Years N O B I D R E C E I V E D
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Total 51,695.000 52,456.125 1,407.460 53,863.585
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