April 21, 2022 (MLN): The State Bank of Pakistan (SBP) conducted an auction on Thursday in which it raised Rs137.24 billion through the sale of 5-year GOP Ijara Sukuk (GIS) Variable Rental Rate (VRR) and GIS Fixed Rental Rate (FRR).
The central bank received bids worth Rs157.784bn for the GIS VRR with a price range of -30 basis points (bps) to 50bps out of which it accepted Rs119.49bn at zero cut off margin.
Bids worth Rs43.107bn were received for the GIS FRR with a fixed rental range of 11.10% to 14% out of which the SBP accepted Rs17.74bn at a cut off rental rate of 12.49%.
The tender for the sale of 5-Year GIS VRR and GIS FRR was invited by the central bank through designated primary dealers today and the settlement date for the successful bids is April 27, 2022.
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