SBP issues PIB auction calendar

Auction target calendar for sale of Government of Pakistan Investment Bonds for 3-, 5-, 7-, 10, Years (Re-opening of July 22, 2010 issue) and 15-, 20- & 30 years (Re-opening of August 30, 2008 issue) for the period January to March, 2011 is as follows:

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Pre-Auction Target of PIBs for 3rd Quarter FY'11
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    January to March, 2011              (Amount in PKR millions)
Start of             Auction         Settlement   Overall Target
When-Issued            date2             Date             Amount
  Period1
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02-Feb-11           16-11          17-Feb-11        20,000.0
02-Mar-11           16-Mar-11          17-Mar-11        15,000.0
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Total                                                   35,000.0
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1: The When-Issued period will end one day prior to the auction date.
2/: 3, 5, 7 & 10 years tenors will be the reopening of 22July2010 issue, while the 15, 20 & 30 will be the Re-opening of 30Aug2008 issue. Coupon rates are 11.25%, 11.50%, 11.75%, 12.00%, 12.50%, 13.00%and 13.75%respectively for 3, 5, 7,10, 15, 20 & 30 years.
Tenders for sale of Pakistan Investment Bonds (PIBs) for 3-, 5-, 7-, 10 years (Re-opening of July 22, 2010 issue) and 15-, 20- and 30 Years (Re-opening of August 30, 2008 issue) have been invited by the State Bank of Pakistan, from the primary dealers on each respective auction dates. Tenders will be received by the Director, Domestic Markets and Monetary Management Department, State Bank of Pakistan, I I Chundrigar Road, up to 1115 hours and will be opened at 1130 hours.
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), on respective auction settlement date. Targets for all auctions are given below.

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Details of Pre-Auction Target of PIBs for 3rd Quarter FY'11
             January to March, 2011                                   (Amount in Millions)
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Auction     3-Yr      5-Yr     7-Yr      10-Yr     15-Yr     20-Yr     30-Yr         Total
Date
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16-Feb-11   4,000.0   4,000.0   3,000.0   6,000.0   1,000.0   1,000.0   1,000.0   20,000.0
16-Mar-11   3,000.0   3,000.0   3,000.0   3,000.0   1,000.0   1,000.0   1,000.0   15,000.0
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