State Bank of Pakistan Raises PKR 63 Billion from Auction of Five-Year Variable Ijara Sukuk

The State Bank of Pakistan (SBP) has raised a total of PKR 63.027 billion in competitive and non-competitive bids of an auction of five-year Government of Pakistan Ijara Sukuk with variable rental rate (GIS-VRR) held on the 17th of December 2020, according to an SBP statement. The auction target for the GIS-VRR was PKR 35 billion, with the settlement date for the successful bids set for the 23rd of December 2020.

According to the SBP statement, the competitive bids accepted in the GIS-VRR auction had a face value of PKR 62.630 billion and a realised value of PKR 62.653 billion, with a price premium of PKR 170.197 million, and a total realised value of PKR 62.823 billion.

Meanwhile, the non-competitive bids accepted in the GIS-VRR auction had a face value of PKR 203 mi...