SBP sets auction target of Rs.3.69 trillion for the next three months

October 7, 2020 (MLN): The State Bank of Pakistan (SBP) announced the auction calendar for October – December 2020 in which it plans to raise Rs.3.69 trillion through the sale of Government Securities.

The amount maturing during the next three months is Rs.2.949 trillion showing a net borrowing requirement of Rs.740.40 billion by the government.

The SBP plans to auction Rs.2.35 trillion in short term Market Treasury Bills (MTB), Rs.420 billion in Fixed Rate Pakistan Investment Bonds (PIBs), Rs.770 billion in Floating Rate PIBs (PIBFRR), Rs.105 billion in Variable Rental Rate GOP Ijara Sukuk and Rs.45 billion in Fixed Rental Rate GOP Ijara Sukuk.

The 3 Year Fixed Rate PIB will be a reopening of Aug 20, 2020 issue, with the 10 and 20 year PIBs being the re-opening of Sep 19, 2019 issue while the 15 year PIB will be re-opening of April 16, 2020.

The 5 year Fixed Rate PIB will be a fresh issue and its coupon rate has been set at 7.50 percent.

The 3, 5 and 10 year Floating rate PIB’s will be the reopening of June 18, 2020 issue with the current coupon rate being set at 8.2670% for 3 year, 8.3070% for 5 year and 8.5170% for 10 years.

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