SBP invites bids for Sukuk

Pakistan News: State Bank of Pakistan on Tuesday invited tenders for sale of 3-Year Government of Pakistan Ijara Sukuk (GIS).

The target for this auction is Rs 10 billion. The tenders have been invited in accordance with the provisions of SBP, FSCD circular No.13 dated Sept. 06, 2008, says SBP statement.

The bids will be opened on Dec 20, 2008 at 11:30 and the results will be announced on same day.

The settlement date will be December 29, 2008. The maximum remaining value of the assets under the present issuance program of Ijara Sukuk is Rs 29.02 billion. The bids can be rejected without assigning any reason.