PIB Auction Calendar third quarter fiscal year 2013

Auction Target calendar for sale of Government of Pakistan Investment Bonds for 3, 5 & 10 Years (Re-Opening of 19Jul2012), and 20 Years (Re-opening of 18Aug2011 issue) for the period January to March, 2013 is attached below:

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PIB Auction Calendar Q3 FY13

January to March, 2013 (Amount in PKR Millions)

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Start of When-  Auction Date   Settlement Date   Maturing Pmt2      Additional        Targets

Issue period                                   (Principal + Coup  Requirement   (Rounded Off)

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02-Jan-13         16-Jan-13        17-Jan-13           20,826          4,174           25,000

30-Jan-13         13-Feb-13        14-Feb-13           26,071        (1,071)           25,000

27-Feb-13         13-Mar-13        14-Mar-13            8,251         16,749           25,000

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Total Q3-FY 13 Amounts                                 55,148         19,852           75,000

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1/: The When-Issue period will end one day prior to the auction date.
2/: Maturity amount incorporates P + I maturing during that month
Total Prinicpal Maturity PKR 1.20 bln and Coupon Maturity PKR 53.95 bln = PKR 55.15 bln.
Tenders for Sale of Pakistan Investment Bonds (PIBs) for 3, 5 & 10 Years (Re-opening of 19Jul2012 issue), and 20 Years (Re-opening of 18Aug2011 issue) are invited by the State Bank of Pakistan, Karachi from the Primary Dealers on each respective auction dates. Tenders will be received by the Director, Domestic Markets and Monetary Management Department, State Bank of Pakistan, I. I. Chundrigar Road, Karachi up to 1115 hours and will be opened at 1130 hours. The result will be announced on the same day. Primary Dealers would be required to deposit the amount of accepted bids to the Chief Manager, State Bank of Pakistan, Banking Services Corporation (Bank), Karachi on respective auction settlement date.
Targets for all auctions are given below:

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Details of tenor-wise Target of PIBs for 3rd Quarter FY'13

January to March, 2013 (Amount in Millions)

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Auction Date      3-Yr        5-Yr       10-Yr      20-Yr       Total

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16-Jan-13      6,000.0     6,000.0    10,000.0    3,000.0    25,000.0

13-Feb-13      6,000.0     6,000.0    10,000.0    3,000.0    25,000.0

13-Mar-13      6,000.0     6,000.0    10,000.0    3,000.0    25,000.0

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Tenor-wise Coupon Rates for all auctions are given below;

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Details of Coupon Rate of PIBs for 3rd Quarter FY'13

January to March, 2013

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3-Yr                5-Yr         10-Yr            20-Yr

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11.25%            11.50%        12.00%           13.00%

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