May 21, 2020 (MLN): The State Bank of Pakistan (SBP) conducted an auction on Thursday in which it sold variable interest rate GOP Ijara Sukuk worth Rs.74.617 billion.
The SBP received bids worth Rs.114.49 billion against an auction target of Rs.75 billion.
Range of Margin for the bids was between -150 and +35 basis points.
In the competitive auction the SBP picked up Rs.73.46 billion at a further Rs.1.157 billion from the non-competitive bid at cut off of 10 basis points under the benchmark.
Historically, the benchmark has been the 6 month weighted average yield from the most recent MTB auction, which was 7.7465, which would make the first rental rate 7.6465 percent.
Copyright Mettis Link News