SBP raises Rs342bn in PIB Auction

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MG News | July 16, 2025 at 11:00 PM GMT+05:00

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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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