SBP rejects all bids in fixed-rate PIB auction
MG News | April 28, 2026 at 07:54 PM GMT+05:00
April 28, 2026 (MLN): The State Bank of Pakistan (SBP) received but
rejected all bids across all tenors in its auction of fixed-rate Pakistan
Investment Bonds (PIBs), with a settlement date of April 29, 2026, raising no
funds from the market.
The auction covered 2-Year (zero-coupon), 3-Year, 5-Year,
10-Year, and 15-Year (zero-coupon) PIBs.
Total face value bids received across all tenors amounted to
Rs906.434bn ,with a total realized amount of Rs499.355bn and accrued interest of Rs13.133bn, bringing the total realized amount inclusive of accrued interest to Rs512.488bn.
The 15-Year tenor attracted the highest participation with
Rs425.5bn, followed by Rs212.171bn in the 5-Year, Rs162.259bn in the 10-Year,
Rs54.5bn in the 3-Year, and Rs52.004bn in the 2-Year.
Despite the significant volume of bids received, the SBP
rejected all competitive bids across every tenor.
No non-competitive bids were accepted either, with the
15-Year tenor recording no non-competitive bids received at all.
As a result, total acceptance stood at zero, and the
government raised no funds through this auction.
Bids Received — Fixed Rate PIBs
|
Tenor |
Face Value (Rs bn) |
Realized Amount (Rs bn) |
Accrued Interest (Rs bn) |
Total Realized Amount (Rs bn) |
Price Range |
|
2-Year (Zero Coupon) |
52.004 |
42.004 |
— |
42.004 |
81.3988 – 79.2765 |
|
3-Year |
54.500 |
51.116 |
1.605 |
52.721 |
94.8320 – 91.2097 |
|
5-Year |
212.171 |
192.983 |
6.400 |
199.384 |
94.6989 – 86.6310 |
|
10-Year |
162.259 |
141.145 |
5.128 |
146.273 |
90.6209 – 76.7071 |
|
15-Year (Zero Coupon) |
425.500 |
72.108 |
— |
72.108 |
16.9929 – 13.2049 |
|
Total |
906.434 |
499.355 |
13.133 |
512.488 |
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