KARACHI: The State Bank of Pakistan (SBP) has raised Rs112 billion through the sale of Pakistan Investment Bonds (PIBs), according to a statement issued on Wednesday.
SBP data showed that the cut-off yields for all three-year, five-year and 10-year PIBs increased. However, the cut-off yield for 15-year PIB decreased.
The yields on three-year bonds rose by 33 basis points, from 7.64pc to 7.97pc; the yields on five-year bonds also increased by 39 basis points from 8.05pc to 8.44pc; while the yields on 10-year bonds rose by 30 basis points from 8.69pc to 8.99pc. The yield for 15-year bonds fell by seven basis points, from 9.97pc to 9.9pc.
As per the auction result, the initial target was Rs140 billion.
Out of the Rs118.7 billion for the three-year PIB, SBP accepted Rs71.1 billion. For five-year PIB, the central bank accepted Rs20.9 billion out of Rs33.1 billion, whereas it accepted Rs16.1 billion for 10-year PIB, out of Rs18.6 billion. The central bank accepted Rs4 billion out of the Rs6.1 billion for the 15-year bond, and accepted all 20-year PIBs bids worth Rs100 million.