Tenders for sale of Pakistan Investment Bonds (PIBs) for three, five and 10 years (by re-opening May 19, 2006 issue) and 15 and 20 years (fresh issue) maturity have been invited from primary dealers by October 30, 2006.
Tenders will be received by Director, Domestic Markets and Monetary Management Department, State Bank of Pakistan, up to 11:15 hours and will be opened at 11:30 hours. The results will be announced the same day.
Successful bidders would be required to deposit the amount of accepted bids to the Chief Manager, SBP, Banking Services Corporation (Bank), Karachi, by October 31, 2006. The coupon rates of PIBs to be sold in the auction are 9.10 percent, 9.30 percent, 9.60 percent (same as of May 19, 2006 issue) for three, five and 10 years, respectively, and 10 percent and 10.50 percent for 15 and 20 years maturity, respectively. Profit will be paid on six-monthly basis.
The target for the issue is Rs 15 billion--Rs 5 billion, Rs 3 billion, Rs 3 billion, Rs 2 billion, and Rs 2 billion for three, five, 10, 15 and 20 years maturity, respectively.