The State Bank of Pakistan on Wednesday conducted auction of Pakistan Investment Bonds (PIBs) and accepted bids worth Rs 27.999 billion with a realised amount of Rs 25.82 billion. The SBP received Rs 40.054 billion worth bids for the sale of 3-, 5-, 7-, 10-, 15-, 20- and 30-year bonds. However, the central bank accepted bids for the sale of 3-, 5-, 10-, 45- and 20-year long-term investment bonds while bids of 7- and 30-year bond were rejected.
A cut-off yield of 14.0031 percent was set for 3-year PIBs with a realised amount of Rs 11.95 billion. Bids worth Rs 2.327 billion were accepted for the 5-year long-term investment bond with a cut-off yield of 14.0564 percent and a cut-off yield of 14.0998 percent was set for 10-year PIB with an auction amount of Rs 11.359 billion. Similarly, 15- and 20-year long term paper was sold at 14.0182 percent and 14.1425 percent, respectively.The bid summary for 3-, 5-, 7-, 10-, 15-, 20- and 30 Years maturity is as follows:
PIB AUCTION TABLE
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(Amount in PKR million)
Total
Face Realised Accrued Realised Price Range
Tenor Value Amount Interest Amount (per Rs 100)
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03 Years 16,229.000 15,419.320 620.259 16,039.579 95.13 - 94.81
05 Years 4,925.000 4,536.433 192.412 4,728.845 92.27 - 91.95
07 Years 250.000 225.885 9.979 235.864 90.41 - 90.26
10 Years 18,300.000 16,350.025 746.038 17,096.063 89.57 - 88.68
15 Years 150.000 135.525 4.418 139.943 90.69 - 89.67
20 Years 100.000 92.630 3.063 95.693 92.63
30 Years 100.000 96.680 3.240 99.920 96.68
Total 40,054.000 36,856.498 1,579.409 38,435.907
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Out of the above bids, the accepted bids were as under:
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(Amount in PKR million)
Tenor Face Value Realised Accrued Total Cut-off Price Cut-off Effective
Amount Interest Realised Yield Weighted
Amount (YTM) Average
%p.a. Yield %p.a.
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03 Years 12,574.000 11,950.250 480.568 12,430.818 94.98 14.0031 13.9692
05 Years 2,525.000 2,327.463 98.648 2,426.110 92.11 14.0564 14.0335
07 Years B I D S R E J E C T E D
10 Years 12,700.000 11,359.250 517.742 11,876.992 89.34 14.0998 14.0778
15 years 100.000 90.690 2.945 93.635 90.69 14.1082 14.1082
20 Years 100.000 92.630 3.063 95.693 92.63 14.1425 14.1425
30 Years B I D S R E J E C T E D
Total 27,999.000 25,820.283 1,102.966 26,923.248
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