3-year PIBs cut-off yield up 7bps

RECORDER REPORT

KARACHI: The cut-off yield on the 3-year Pakistan Investment Bonds rose by 7bps to 12.22 percent.

Similarly, the cut-off yield for 10-year Pakistan Investment Bonds increased by 9bps to 12.32 percent.

The total realised amount for the 3-year PIBs stood at Rs 4,943.869 million while the total realised amount for the 10-year PIBs stood at Rs 5,034.797 million.  Auction of the PIBs for 3-,5-,7-,10-,15-,20- and 30 years maturity was held on October 12, 2011 with coupon rates at 11.25 percent, 11.50 percent, 11.75 percent, 12.00 percent, 12.50 percent, 13.00 percent and 13.75 percent for 3-,5-,7-,10-,15-,20- and 30 years maturity, respectively with settlement date of November 23, 2011.

No bids were received for 15-, 20- and 30 years PIBs while the bids for 5- and 7 years PIBs were rejected.