Pakistan Investment Bonds Auction Target for period July to September, 2014

Karachi, July 02, 2014 (PPI-OT): Auction Target calendar for sale of Government of Pakistan Investment Bonds for 3,5 and 10 years (Fresh issue) and 20 Years (Re-opening of 18Aug2011 issue) for the period July to September, 2014 is attached below:


PIB Auction Calendar Q1 FY 15
July to September, 2014 (Amount in PKR Millions)

Start of When-Issue Auction Date Settlement Date Maturing Amt 2 Additional Targets
Period 1 (Principal + Coupon) Requirement (Rounded Off)

02-Jul-14 16-Jul-14 17-Jul-14 145,284 (45,284) 100,000
29-Jul-14 12-Aug-14 13-Aug-14 103,339 (3,339) 100,000
27-Aug-14 10-Sep-14 11-Sep-14 10,083 89,917 100,000

Total Q1-FY15 Amounts 258,706 41,294 300,000

1/: The When-Issue period will end one day prior to the auction date.

2/: Maturity amount incorporates P + I maturing during that month

Total Principal Maturity PKR 79.53bln and Coupon Maturity PKR 179.17bln = PKR 258.71bln.

Tenders for Sale of Pakistan Investment Bonds (PIBs) for 3, 5 and 10 years (Fresh issue) and 20 Years (Re-opening of 18Aug2011 issue) are invited by the State Bank of Pakistan, Karachi from the Primary Dealers on each respective auction date through Bloomberg Online Auction module up to 12.00 PM PST.

The result will be announced on the same day. Primary Dealers would be required to deposit the amount of accepted bids to the Chief Manager, State Bank of Pakistan, Banking Services Corporation (Bank), Karachi on respective auction settlement date.

Targets for all auctions are given below:


Details of tenor-wise Target of PIBs for 1st Quarter FY’15
July to September, 2014 (Amount in Millions)

Auction Date 3-Yr 5-Yr 10-Yr 20-Yr Total

16-Jul-14 30,000.0 30,000.0 30,000.0 10,000.0 100,000.0
12-Aug-14 30,000.0 30,000.0 30,000.0 10,000.0 100,000.0
10-Sep-14 30,000.0 30,000.0 30,000.0 10,000.0 100,000.0

Tenor-wise Coupon Rates for all auctions are given below:


Details of Coupon Rate of PIBs for 1st Quarter FY’15
July to September, 2014

3-Yr 5-Yr 10-Yr 20-Yr

11.25% 11.50% 12.00% 13.00%

Bids can be rejected without assigning any reason.

For more information, contact:
Syed Wasimuddin
Chief Spokesman
State Bank of Pakistan (SBP)
Tel: +9221 3921 2562
Fax: +9221 3921 2563
Email: syed.wasimuddin@sbp.org.pk

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