The SBP to conduct Auction of 5 year GOP Ijara Sukuk on April 23, 2020

MG News | April 20, 2020 at 08:55 PM GMT+05:00

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April 20, 2020 (MLN): The State Bank of Pakistan (SBP) will conduct an auction on Thursday April 23, 2020 for a 5 year Variable Rental Rate (VRR) GOP Ijara Sukuk in which it hopes to raise Rs.75 billion.

The SBP published a revised auction schedule for Ijara sukuks, in which it will conduct another auction in the month of April 2020.

Last week the SBP rejected all bids in the Auction for GOP Ijara sukuk as it had reduced the policy rate by 200 basis points.

With an MTB auction scheduled for April 22, the SBP will have a more relevant benchmark as the variable rental rate is linked to 6 month MTB weighted average yield.

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