SBP raises Rs643.6bn through floating rate PIBs

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

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	133,177.88 93.05M	-0.14% -192.27
ALLSHR	83,007.37 330.06M	-0.09% -73.78
KSE30	40,584.17 30.03M	-0.30% -121.13
KMI30	191,968.03 39.01M	-0.32% -612.65
KMIALLSHR	55,773.97 191.33M	-0.11% -61.74
BKTi	36,208.42 5.15M	-0.30% -108.75
OGTi	28,476.26 2.80M	-0.23% -66.70

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	108,370.00	108,880.00 107,680.00	-85.00 -0.08%
BRENT CRUDE	69.44	69.50 69.03	-0.14 -0.20%
RICHARDS BAY COAL MONTHLY	97.50	0.00 0.00	2.90 3.07%
ROTTERDAM COAL MONTHLY	106.00	106.75 106.00	0.25 0.24%
USD RBD PALM OLEIN	998.50	998.50 998.50	0.00 0.00%
CRUDE OIL - WTI	67.74	67.97 67.40	-0.19 -0.28%
SUGAR #11 WORLD	16.25	16.46 16.07	-0.13 -0.79%