Auction Result: SBP Sells PIBs worth Rs. 113.806 Billion

March 20, 2019 (MLN): The State Bank of Pakistan conducted an Auction on Wednesday in which it sold PIB (Fixed & Floating Rate) worth Rs.113.806 Billion.

Out of the amount, Rs.104.550 Billion was for 3, 5 and 10 year Fixed Rate bonds, while Rs.9.225 Billion was for the Floating Rate PIB.

Auction Target for the fixed rate PIBs was Rs.100 Billion against a maturing amount of Rs.24.838 Billion, showing an additional requirement of Rs.75.162 Billion.

SBP received bids worth Rs.224.953 Billion out of which SBP accepted Rs. 22.419 Billion for 3 Years at a cut-off of 12.2300 percent, Rs.24.608 Billion for 5 years at a cut off yield of 12.6405 percent and Rs. 57.523 Billion for 10 years at a cut off yield of 13.1500 percent. No Bids were made for the 20 year PIB.

In the floating Rate Auction, the SBP picked up Rs. 9.255 Billion against an auction Target of Rs.100 Billion. The SBP had received bids worth Rs.67.75 Billion with a margin ranging between 70 – 125 bps, out of which SBP accepted Rs.9.255 Billion at a spread of 70 bps.

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