State Bank of Pakistan rejects all PIB bids
MG News | February 21, 2018 at 08:39 PM GMT+05:00
State Bank of Pakistan (SBP) today rejected all bids against its auction for Pakistan Investment Bonds (PIB) in three, five, ten and twenty year bonds. The auction received a very lackluster response as it managed to invite only PKR 12,579.208 million against the target of PKR 50,000 million.
According to a press communique issued by SBP, the central bank rejected all bids received against its PIB targets. The State Bank received total bids worth PKR 12,579.208 million of which, the majority was concentrated in three year and five year tenors.
The State Bank received bids worth PKR 12,030.343 million in three years and PKR 548.865 in five year targets missing the target of PKR 50,000 million by PKR 37,420.792 million.
However, the bank received zero bids in the ten and twenty year tenures.
| Tenor | Face Value | Realized Amount | Accrued Interest | Total Realized Amount | Price Range (per Rs. 100) |
|---|---|---|---|---|---|
| 03 Years | 12,010.000 | 11,903.314 | 127.209 | 12,030.343 | 99.75 – 98.89 |
| 05 Years | 550.100 | 542.424 | 6.442 | 548.865 | 98.85 – 98.40 |
| 10 Years | No Bids Received | ||||
| 20 Years | No Bids Received | ||||
| Total | 12,560.100 | 12,445.738 | 133.471 | 12,579.208 |
|
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