SBP releases TBills, PIBs calendar for upcoming quarter

    State Bank of Pakistan released Auction Target Calendar for the sale of Government of Pakistan Monthly T-Bills and Pakistan Investment Bonds for the period of February to April, 2018.

    MTB Auction Calendar

    Amount in Rs. (Millions)

    Auction Date

    Settlement Date

    Maturing Amount

    Additional Requirement

    Targets (Rounded Off)

    31-Jan-18

    1-Feb-18

    842,717

    57,283

    900,000

    14-Feb-18

    15-Feb-18

    783,820

    16,180

    800,000

    28-Feb-18

    1-Mar-18

    620,755

    29,245

    650,000

    14-Mar-18

    15-Mar-18

    120,578

    229,422

    350,000

    28-Mar-18

    29-Mar-18

    578,167

    23,833

    600,000

    11-Apr-18

    12-Apr -18

    1,091,197

    (141,197)

    950,000

    25-Apr-18

    26-Apr -18

    37,420

    162,580

    200,000

    4,072,655

    377,345

    4,450,000

    PIB Auction Calendar

    Amount in Rs. (Millions)

    Start of When – Issue Period

    Auction Date

    Settlement Date

    Maturing Amount (Principal + Coupon)

    Additional Requirement

    Targets (Rounded Off)

    07-Feb -18

    21-Feb -18

    22-Feb -18

    8,082

    41,918

    50,000

    07-Feb -18

    21-Mar -18

    22-Mar -18

    576,748

    (476,748)

    100,000

    04-Apr -18

    18-Apr -18

    19-Apr -18

    31,400

    68,600

    100,000

    616,230

    (366,230)

    250,000

    The breakup of aforementioned PIB Targets is such:

    Amount in Rs. (Millions)

    Auction Date

    3 Year

    5 Year

    10 Year

    20 Year

    Total

    21-Feb -18

    15,000

    15,000

    15,000

    5,000

    50,000

    21-Mar -18

    30,000

    30,000

    30,000

    10,000

    100,000

    18-Apr -18

    30,000

    30,000

    30,000

    10,000

    100,000

    Tenor wise Coupon Rates for All Auctions

    7.00%

    7.75%

    8.75%

    10.75%

    Government of Pakistan has found extremely difficult in the recent 6 months to raise funds form long term instruments. Despite a rise in the policy rate during the last Monetary Policy Announcement, the 1st MTB auction post the announcement did not reveal any change in investor sentiment, as the entire bids were concentrated in the 3 month instruments.

    *The Maturing Amount column of the MTB Auction Target is expected to be revised as the maturing amount from the 31st January Auction totals Rs. 1.207 trillion, the composition of which is as follows.

    Amount in Rs. (Millions)

    Tenor

    Settlement Date

    Maturity Date

    Total Amount

    3 Month

    01-Feb-18

    26-Apr-18

    1,170,046.22

    6 Month

    26-Oct-17

    26-Apr-18

    29,601.59

    12 Month

    27-Apr-17

    26-Apr-18

    7,818.50

    Posted on: 2018-02-06T13:08:00+05:00