SBP raises Rs466bn in fixed-rate PIB auction

March 26, 2026 (MLN): The State Bank of Pakistan (SBP) raised a combined Rs466.232 billion in its latest auction of fixed-rate Pakistan Investment Bonds (PIBs), held on March 26, 2026, with a settlement date of March 27, 2026.

The auction covered 2, 3, 5, 10, and 15-year tenors. Coupon rates were set at zero for the 2-year bond, 10.25% for the 3-year, 10.50% for the 5-year, 11.00% for the 10-year, and zero for the 15-year bond.

Total face value bids received across all tenors amounted to Rs818.45 billion. The 15-year tenor attracted the highest participation with Rs390bn in face value bids, followed by Rs145.5bn in the 10-year, Rs105.7bn in the 5-year, Rs91bn in the 2-year, and Rs86.25bn in the 3-year.

Of the total amount raised, Rs453.45bn came through competitive bids. The 15-year tenor dominated accepted competitive bids at Rs325bn, with a cut-off yield of 12.40%.

The 3-year followed at Rs60.75bn with a cut-off yield of 12.50%, the 2-year at Rs38bn at 12.50%, and the 5-year at Rs29.7bn also at 12.50%. The SBP rejected all competitive bids for the 10-year tenor.

Competitive Bids :

An additional Rs12.782bn was accepted through non-competitive bids  Rs4.762bn in the 3-year, Rs4.08bn in the 2-year, and Rs3.94bn in the 5-year tenor.

No non-competitive bids were received for the 15-year, and 10-year non-competitive bids were rejected, bringing the grand total raised to Rs466.232bn.

Copyright Mettis Link News