The State Bank of Pakistan (SBP) has auctioned the Government of Pakistan Ijara Sukuk (GoP-IS) worth Rs 6 billion for a three-year maturity period. Director Domestic Markets and Monetary Management Department (DMMD) had invited tenders from designated Primary Dealers for the sale of 3-Year GIS worth Rs 10 billion from December 16 to 20, 2008.
The central bank, which received the tenders worth Rs 7.35 billion with a range of margin over benchmark ranging from +15.00 to +95.00 bps, accepted bids worth Rs 6 billion with a +75 bps cut-off margin, which would be applicable on all the accepted bids. The bids were opened on Saturday at 11:30 hours.