April 28, 2022 (MLN): The cut-off yields of Pakistan Investment Bonds (PIBs) were increased considerably by up to 145 basis points in the auction conducted by the State Bank of Pakistan (SBP) on Thursday.
The government raised Rs375.8 billion through the auction of three, five, and ten-year PIBs while the target was Rs100bn.
The cut-off yields for 3-year, 5-year, and 10-year PIBs saw an increase of 145, 120, and 141 basis points to stand at 13.3%, 12.95%, and 13.15%, respectively.
The market had offered Rs716.5bn, out of which the government accepted bids amounting to Rs375.8bn.
SBP received bids worth Rs122.1bn for 3-year PIBs, Rs241.9bn for 5-year, and Rs352.6bn for 10-year. However, no bids were received for 15, 20, and 30-year bonds.
The total amount raised for 3-year PIBs was Rs26.9bn, Rs62.8bn for 5-year, and Rs286.2bn for 10-year PIBs.
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