KARACHI: Pakistan Investment Bonds generate over Rs 59 billions for StateBank of Pakistan.
The State Bank of Pakistan (SBP) has raised Rs59.4 billion through the saleof Pakistan Investment Bonds (PIBs). SBP data showed that the cut-offyields for all tenors increased, reflecting the much higher expectedinflation result for January.
The yields on 3-year bonds rose by 30 basis points, from 11.75pc to12.05pc. The same on 5-year bonds also increased to 11.4pc from 11.19pcpreviously, while the yields on 10-year bonds increased from 10.9pc to 11pc.
As per the auction result, the participation was Rs127 billion, while thetarget was Rs100 billion.
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Out of the Rs41.45 billion for 3-year PIB, SBP accepted Rs19.6 billion. For5-year PIB, the central bank accepted Rs29.6 billion out of Rs49.2 billion,whereas it accepted Rs10.2 billion for 10-year PIB, out of Rs34.6 billion.
Bids for 20-year bonds were rejected. The next auction will be held on 4March 2020.
