Heavy participation was witnessed in the Market Treasury Bills auction held on Wednesday. In response to the State Bank of Pakistan's tender for the sale of 3-month, 6-month & 12-month Government of Pakistan Market Treasury Bills (MTBs), overall Rs 221.376 billion bids with a realised amount of Rs 211.161 billion were received through Primary Dealers from 27 to 28 November, 2012.
However, SBP accepted bids worth Rs 155.176 billion with a realised amount of Rs 148.562 billion. A cut-off yield of 9.3207 percent was set for the sale of 3-month MTBs with accepted bids worth Rs 28.431 billion. For 6-month T-bills Rs 117.245 billion worth bids were accepted with 9.3401 percent cut-off yield. Similarly, a cut-of yield of 9.3870 percent was set for the 12-month period and its Rs 9.5 billion bids were accepted.
SBP issued the following Wednesday: Tenders for Sale of 3-Month, 6-Month & 12-Month Government of Pakistan Market Treasury Bills were invited by the State Bank of Pakistan, Karachi through Primary Dealers from November 27 to 28, 2012. Bids were opened at 11:30 hours on November 28, 2012 which was received as follows: Out of the above bids, the accepted bids are as under:
============================================
(Rs In Millions)
============================================
Realised Value Face Value
============================================
03-Month 30,038.874 30,681.000
06-Month 157,585.434 164,945.000
12-Month 23,536.475 25,750.000
--------------------------------------------
Total 211,160.783 221,376.000
===============================================================
Maturity Cut - Off Weighted Realised Face
Period Yield Avg. Yield Amount Value
===============================================================
03-Month 9.3207 9.2825 27,836.349 28,431.000
06-Month 9.3401 9.3192 112,038.759 117,245.000
12-Month 9.3870 9.3795 8,687.400 9,500.000
---------------------------------------------------------------
Total 148,562.508 155,176.000
===============================================================