Govt sells Rs80.4 bil­lion sukuk

The Pak Banker - - COMPANIES/BOSS -

KARACHI: The gov­ern­ment raised Rs80.4 bil­lion through sale of fixed rental rate three-year ijara sukuk (Is­lamic bonds). The bonds were raised at a rate lower than the Pak­istan In­vest­ment Bonds (PIBs), but the amount of­fered showed that the pri­mary deal­ers were will­ing to in­vest more than 100 per cent of the amount raised in this auc­tion. The bids of­fered were Rs198.7bn for the three-year tenor while the cut­off rate was 5.59pc. The three-year PIBs sold this week of­fered a cut-off yield of 6.32pc for an amount of Rs37.2bn.

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