SBP raises Rs90.4bn through PIB-PFL auction

MG News | June 12, 2024 at 11:11 PM GMT+05:00

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June 12, 2024 (MLN):The State Bank of Pakistan (SBP) conducted an auction on Wednesday in which it sold Pakistan Investment Bond – Floating Rate (PIB-PFL) semiannual worth Rs90.43 billion for 5 and 10 years against a target of Rs220bn.

The cut-off price for the 5-year PIB-PFL semiannual stood at Rs96.5875, while for the 10-year bond, it stood at Rs94.4585.

SBP received bids worth Rs287.75bn for PIB-PFL semiannual and Rs50bn for PIB-PFL quarterly. Out of these, the central bank accepted Rs90.43bn for the semiannual floaters, while none were accepted for the quarterly PIB.

The settlement date for the successful bids is June 13, 2024.

The amount raised through PIB-PFL semiannual comes from the sale of 5-year and 10-year semiannual PIBs worth Rs82.13bn and Rs8.3bn, respectively.

The total sum raised through 5-year and 10-year semiannual bonds represents Rs78.5bn raised by SBP through competitive bids and Rs11.93bn raised through non-competitive bids.

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