SBP Raises Coupon Rates on PIBs, Sets Sep - Nov Auction Target of Rs.5.125 Trillion
MG News | September 03, 2019 at 10:30 PM GMT+05:00
September 03, 2019 (MLN): The State Bank of Pakistan (SBP) has set Rs.5.125 trillion as the auction target for Market Treasury Bills (MTB) and Pakistan Investment Bonds (PIB) in the next three months (Sep – Nov 2019).
According to a the auction schedule released by the SBP, Rs.4.40 trillion is to be raised through the short term MTBs while Rs.725 billion is to be raised from long term fixed and floating PIB’s.
The target for the fixed rate PIB’s is Rs.375 Billion while that of the floating rate bonds is Rs.350 Billion.
The Maturing amount during the period is Rs.4.293 trillion, out of which Rs.4.204 trillion is maturing in MTBs while the remaining Rs.89.207 billion is maturing in PIBs, showing an additional requirement of Rs.587.208 Billion.
The SBP announced that it will be issuing fresh Fixed Rate Bonds and also raised the Coupon Rates across all tenors between 25 to 175 basis points.
| Tenor | New Rate | Previous Rate | Change % |
|---|---|---|---|
| 3 - Year | 9.00 | 7.25 | 1.75 |
| 5 - Year | 9.50 | 8.00 | 1.50 |
| 10 - Year | 10.00 | 8.75 | 1.25 |
| 20 - Year | 11.00 | 10.75 | 0.25 |
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