SBP raises Rs643.6bn through floating rate PIBs

MG News | November 27, 2024 at 07:25 PM GMT+05:00

Add Mettisglobal as a Trusted Source on Google

0:00

November 27, 2024 (MLN): The State Bank of Pakistan (SBP) conducted an auction for floating rate Pakistan Investment Bonds on Wednesday in which it sold Rs643.57 billion for 5 and 10-year semiannual bonds against a target of Rs300bn.

The cut-off price stood at 96.6877 for the 5-year bond and 92.5462 for the 10-year bond, while bids were rejected for 2-year bonds.

That is an annual yield of about 14.29% for the 5-year bond and 14.79% for the 10-year bond, if held till maturity.

Comparatively, the yield for the 5-year bond remained largely stable, while the 10-year one witnessed a meager 3bps drop.

SBP received bids totaling Rs1.26 trillion, indicating an extremely high participation.

Out of the total funds raised, Rs631.39bn was through competitive bids, and Rs12.18bn was through non-competitive bids.

To note, the central bank in the last auction held on November 13, 2024 sold PIBs-PFL worth Rs540.03bn against a target of Rs500bn.

The cut-off price stood at 96.6861 for 5-year bond and 92.4045 for the 10-year bond, while bids were rejected for 2-year bonds.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	180,511.02 526.92M	0.07% 118.05
ALLSHR	108,555.87 1,212.83M	0.36% 391.07
KSE30	53,841.27 248.20M	-0.15% -80.15
KMI30	257,350.10 248.61M	0.18% 449.64
KMIALLSHR	70,414.17 786.79M	0.66% 464.74
BKTi	49,456.61 62.72M	-0.92% -458.09
OGTi	36,926.58 22.69M	1.66% 603.66

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	64,935.00	66,160.00 64,825.00	-765.00 -1.16%
BRENT CRUDE	79.10	79.57 77.75	0.14 0.18%
RICHARDS BAY COAL MONTHLY	123.00	0.00 0.00	7.50 6.49%
ROTTERDAM COAL MONTHLY	125.50	0.00 0.00	-0.40 -0.32%
USD RBD PALM OLEIN	1,157.50	1,157.50 1,157.50	0.00 0.00%
CRUDE OIL - WTI	75.37	76.06 74.09	0.10 0.13%
SUGAR #11 WORLD	14.24	14.33 14.22	-0.07 -0.49%