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SBP auctions investment bonds worth over Rs59b

SBP auctions investment bonds worth over Rs59b

KARACHI: State Bank of Pakistan (SBP) has sold out Pakistan Investment Bonds (PIBs) for 3, 5 and 10-year tenor during an auction held on Tuesday.

The auction was organised by Domestic Markets and Monetary Management Department of the central bank today which settled the coupon rates for 3, 5 and 10-year tenor bonds up to 9.0 per cent, 9.5 per cent and 11.0 per cent respectively, said a press release.

The government has sold out 3-year tenor PIBs worth Rs19 billion with a cut-off yield of 12.05 per cent after an increase of 30 basis points. The investment bonds of 5-year tenor worth over Rs29 billion was auctioned with a cut-off yield of 11.40 per cent after the hike in 21 basis points, whereas, the cut-off-yield for 10-year tenor bonds worth over Rs10 billion hiked up to 11 per cent with an increase of 10 basis points.