SBP raises Rs788.14bn through floating rate PIBs

MG News | January 08, 2025 at 10:33 PM GMT+05:00

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January 08, 2025 (MLN): The State Bank of Pakistan (SBP) successfully raised Rs734.39 billion through an auction of floating rate Pakistan Investment Bonds (PIBs) for 2-year and 5-year tenures on Wednesday.

The auction, conducted against a target of Rs700 billion, saw the 2-year PIB-PFL semiannual bonds settled at a cut-off price of 99.6538, while the 5-year bonds were priced at 96.5725.

However, all bids for the 10-year bonds were rejected.

SBP received bids totalling Rs775.25bn.

The total sum raised represents raised through Rs8bn through competitive bids and Rs3.86bn through non-competitive bids.

To note, the central bank in the last auction held on December 24, 2024, sold PIBs-PFL worth Rs732.53bn against a target of Rs650bn.

The cut-off price stood at 96.6491 for 5-year bond, and 92.3971 for the 10-year bond.

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