Rs 45.803 billion Ijara Sukuk sold

The State Bank of Pakistan on Monday sold 3-Year Government of Pakistan Ijara Sukuk worth Rs 45.803 billion against bids of Rs 51.253 billion. The SBP has issued the following statement: Tender for Sale of 3-Year Government of Pakistan Ijara Sukuk was invited by the State Bank of Pakistan, Karachi through designated Primary Dealers (for Ijara Sukuk) from May 7, 2011 to May 9, 2011.
Bids were opened at 11:30 hours on May 09, 2011, which were received as follows:

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Ijara Sukuk -TABLE

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                                                (Rs In Million)

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                            Offered Amount      RANGE OF MARGIN

                            (FACE VALUE)   over Benchmark (bps)

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03-Year Ijara Sukuk           51,253.700      -100.00 to +50.00

Total                         51,253.700

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Out of the above bids, the accepted bids are as under:

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Maturity Period          Cut-Off Margin         Accepted Amount

                      Over benchmark (bps)*        (Face Value)

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03 -Yr Ijara Sukuk          + 0.00                   45,803.700

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Total                                                45,803.700

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