KARACHI: The State Bank of Pakistan on Wednesday auctioned of Pakistan Investment Bonds (PIBs) and accepted bids worth Rs25.384 billion with a realised amount of Rs25.953 billion.

SBP received total bids worth Rs71.284 billion for the sale of 3-, 5- and 10-year bonds. However, no bid was received for 20-year PIBs.

A cut-off yield of 10.3935 percent was set for 3-year PIBs with a realised amount of Rs16.828 billion. Bids worth Rs4.165 billion were accepted for the 5-year long-term investment bond with a cut-off yield of 10.9563 percent and a cut-off yield of 11.4495 percent was set for 10-year PIB with a realised auction amount of Rs 4.96 billion.

SBP issued the following press statement:

Auction of Pakistan Investment Bonds for 3, 5, 10, and 20 years maturity was held on October 23, 2012 with coupon rates as 11.25%, 11.50%, 12.00%, and 13.00% for 3, 5, 10 and 20 years maturity respectively and settlement date of October 24, 2012.