July 23, 2020 (MLN): The State Bank of Pakistan (SBP) raised Rs.47.73 billion through the auction of five year fixed and variable rental rate Gop Ijara Sukuk.

Auction target was Rs.50 billion split evenly between the two categories.

In the Variable Rental Rate auction, the SBP received bids worth Rs.61.429 billion with bids ranging in a margin on -100 to + 50 bps over the Benchmark.

The SBP accepted Rs.25.529 billion at a cut off of 20 bps under the benchmark.

In the fixed rate auction, the SBP received bids worth Rs.26.50 billion with a fixed rental rate ranging between 7.89 to 8.90 percent, out of which the SBP accepted Rs.20.90 billion at 8.37 percent.

In addition to SBP accepted Rs.1.302 billion in non-competitive bids making the total accepted amount Rs.47.73 billion.

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