SBP raises Rs342bn in PIB Auction
MG News | July 16, 2025 at 11:00 PM GMT+05:00
July 16, 2025 (MLN): The State Bank of Pakistan (SBP) has secured Rs342.32 billion in today's auction of Fixed Rate Pakistan Investment Bonds (PIBs).
The auction offered a mix of fixed-rate and zero-coupon instruments across five tenors: 2-Year, 3-Year, 5-Year, 10-Year, and 15-Year. Notably, bids for the 15-year tenor were rejected entirely.
The highest acceptance came from the 5-Year bonds, which accounted for Rs254.84bn, indicating strong investor interest in mid-term instruments.
Cut-off yields showed a rising trend with the 2-Year bond settled at 10.8480%, the 3-Year at 11.0500%, the 5-Year at 11.3900%, and the 10-Year reaching as high as 12.2000%.
The 15-year tenor was rejected, as bids in this ultra-long maturity fell within a steeply discounted price range of 12.42–16.81, prompting the SBP to decline all offers, which highlighted its reluctance to lock in long-term borrowing at such high costs.
Fixed Rate PIB Auction Results
|
Tenor |
Non-Competitive Price |
Competitive Bids |
Non-Competitive Bids |
Short Selling |
Total Acceptance (Face Value) |
|
02-Year |
81.4229 |
13,300.000 |
6,967.900 |
19,000.000 |
39,267.900 |
|
03-Year |
98.7412 |
19,354.600 |
15,910.600 |
6,500.000 |
41,765.200 |
|
05-Year |
98.9075 |
247,000.000 |
7,840.000 |
— |
254,840.000 |
|
10-Year |
96.0179 |
159.300 |
1,290.000 |
5,000.000 |
6,449.300 |
|
15-Year |
— |
— |
— |
— |
— |
|
Total |
— |
279,813.900 |
32,008.500 |
30,500.000 |
342,322.400 |
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