The State Bank of Pakistan (SBP) successfully raised Rs81.07 billion through a recent auction of Pakistan Investment Bonds (PIBs). The auction aimed to generate Rs190 billion, aligning with the bonds’ maturity amount.
During the auction, the SBP maintained the cut-off yields at 16.6000% for 3-year bonds and 15.4475% for 5-year bonds. However, bids for 10-year bonds were rejected.
Out of the total Rs205.63 billion offered, the SBP accepted Rs81.07 billion. Bids received amounted to Rs114.88 billion for 3-year bonds, Rs53.5 billion for 5-year bonds, and Rs37.25 billion for 10-year bonds. Of these, the SBP accepted Rs58.48 billion for 3-year bonds and Rs17.25 billion for 5-year bonds, while rejecting all bids for 10-year bonds.
Additionally, the SBP secured Rs5.33 billion from the non-competitive auction, bringing the total amount accepted to Rs81 billion.
In comparison, the previous auction on June 25, 2024, saw the SBP selling PIBs worth Rs131.4 billion against a Rs190 billion target, with cut-off yields at 16.6% for 3-year bonds, 15.45% for 5-year bonds, and 14.25% for 10-year bonds.
