SBP raises Rs649bn in Fixed Rate PIB Auction
MG News | June 17, 2026 at 08:12 PM GMT+05:00
June 17, 2026 (MLN): The State Bank of Pakistan (SBP) conducted a
government securities auction, with a settlement date of June 18, 2026, for the
sale of Fixed Rate Pakistan Investment Bonds (PIBs).
The auction
successfully raised Rs648.541bn in face value terms across multiple tenors,
while all bids for the 15-Year tenor were rejected.
Pakistan Investment Bonds (Fixed Rate)
Tenders for the sale
of 2-Year (Zero Coupon), 3-Year, 5-Year, 10-Year, and 15-Year (Zero Coupon)
Government of Pakistan Investment Bonds were invited by the SBP, with bids
received across all five tenors.
Total face value
bids received across all tenors amounted to Rs2,062.42billion.
The 5-Year tenor
attracted the highest participation at Rs825.91bn, followed by Rs612.55bn in
the 3-Year, Rs247.462bn in the 10-Year, Rs221bn in the 2-Year, and Rs155.5bn in
the 15-Year tenor.
Of the total amount
raised, Rs583.49bn came through competitive bids.
The 5-Year tenor led
with Rs313bn in accepted face value at a cut-off yield of 12.19%.
The 3-Year followed
at Rs153bn with a cut-off yield of 12.09%, while the 10-Year attracted
Rs114.994bn at 12.61%.
Furthermore, the
2-Year secured Rs2.5bn at 12.14%. All competitive bids for the 15-Year tenor
were rejected by the central bank.
Competitive Bids — Fixed Rate PIBs
|
Tenor |
Face Value Accepted (Rs bn) |
Cut-off Yield |
Wtd Avg Yield |
|
02-Year |
2.5 |
12.14% |
12.14% |
|
03-Year |
153 |
12.09% |
12.0593% |
|
05-Year |
313 |
12.19% |
12.0923% |
|
10-Year |
114.994 |
12.61% |
12.5713% |
|
15-Year |
Bids Rejected |
- |
- |
|
Total |
583.494 |
An additional
Rs17.797bn was accepted through non-competitive bids, while Rs47.25bn was
raised through short selling.
The non-competitive
bids included Rs8.69bn in the 5-Year, Rs6.147bn in the 3-Year, Rs1.957bn in the
2-Year, and Rs1.003bn in the 10-Year tenor.
Short selling volume
was led by the 5-Year tenor at Rs28bn, followed by Rs11.25bn in the 3-Year, and
Rs8bn in the 10-Year tenor.
Non-Competitive Bids & Short Selling — Fixed Rate PIBs
|
Tenor |
Non-Competitive Price |
Non-Competitive Bids (Rs bn) |
Short Selling (Rs bn) |
|
02-Year |
83.4591 |
1.957 |
- |
|
03-Year |
99.8338 |
6.147 |
11.250 |
|
05-Year |
100.5477 |
8.690 |
28 |
|
10-Year |
99.5763 |
1.003 |
8 |
|
15-Year |
- |
- |
- |
|
Total |
17.797 |
47.250 |
The grand total
raised through the Fixed Rate PIB auction, inclusive of competitive bids,
non-competitive bids, and short selling, stood at Rs648.541bn in face value
terms.
Total Acceptance (Competitive + Non-Competitive + Short Selling)
|
Tenor |
Face Value Accepted (Rs bn) |
|
02-Year |
4.457 |
|
03-Year |
170.397 |
|
05-Year |
349.690 |
|
10-Year |
123.997 |
|
15-Year |
- |
|
Total |
648.541 |
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