SBP buys back Rs279bn in MTBs

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MG News | May 20, 2026 at 09:02 PM GMT+05:00

May 20, 2026 (MLN): The State Bank of Pakistan (SBP) conducted a buyback auction for Government of Pakistan Market Treasury Bills (MTBs), with a settlement date of May 21, 2026.

The central bank successfully bought back a total of Rs279.143bn in face value terms to retire government debt ahead of maturity.

Market Treasury Bills (MTBs) Buyback

Tenders for the buyback of 6-Month and 12-Month MTBs  both carrying a maturity date of May 29, 2026  were invited by the State Bank of Pakistan through Primary Dealers.

Total face value bids received for the buyback amounted to Rs288.394bn. The 12-Month tenor saw the vast majority of the offers at Rs287.562bn, while the 6-Month tenor received bids worth Rs0.832bn.

Of the total amount bought back, Rs271.190bn was accepted through competitive bids. The SBP accepted Rs270.358bn for the 12-Month tenor and Rs0.832bn for the 6-Month tenor. The central bank set a uniform cut-off yield of 11.5495% for both tenors.

Competitive Bids — MTBs Buyback

Tenor

Maturity Date

Face Value Accepted (Rs bn)

Cut-off Yield

Wtd Avg Yield

06-Month

29-May-26

0.832

11.5495%

11.6235%

12-Month

29-May-26

270.358

11.5495%

11.6408%

Total

271.190

An additional Rs7.953bn was accepted through non-competitive bids comprising Rs6.875bn in the 12-Month tenor and Rs1.078bn in the 6-Month tenor.

Non-Competitive Bids — MTBs Buyback

Tenor

Maturity Date

Face Value Accepted (Rs bn)

Price

06-Month

29-May-26

1.078

99.7459

12-Month

29-May-26

6.875

99.7455

Total

7.953

The grand total retired through the MTBs buyback auction, inclusive of both competitive and non-competitive bids, stood at Rs279.143bn in face value terms.

Total Acceptance (Competitive + Non-Competitive) — MTBs Buyback

Tenor

Maturity Date

Face Value Accepted (Rs bn)

06-Month

29-May-26

1.910

12-Month

29-May-26

277.233

Total

279.143

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