Auction of Government of Pakistan Ijarah Sukuk

Tender for Sale of 3-Year Government of Pakistan Ijara Sukuk (GIS) are invited by the Director, Domestic Markets & Monetary Management Department (DMMD), State Bank of Pakistan, Karachi from the designated Primary Dealers for the Sukuk in accordance with the provisions of SBP, DMMD Circular No.10 dated 17th June, 2014.

Ijara

 

 

 

  1. Receipt of Tenders                 Up to the date of auction (11:15 hrs)
  2. Opening of tenders                 11:30 hours on the date of auction
  3. Communication of result        On the date of auction
  4. 1st Rental Coupon                   To be determined one day prior to the settlement date
  5. Maximum value of the asset under the present issuance program of the Ijara Sukuk is PKR.49.572 billion.

Note: Bids can be rejected without assigning any reason.

 

Comments

  1. 1st Rental coupon rate of 3 – Year Government of Pakistan Ijara Sukuk (GIS-15)

    1st Rental coupon rate for the 3-Year Government of Pakistan Ijara Sukuk GIS-15 (auction conducted on June 20, 2014) is as follows:

    Issue 1st Rental
    Coupon rate (% p.a.) * 1st Rental Coupon
    payment date
    03 -Yr Ijara Sukuk (GIS-15) 7.9763 25th December, 2014
    *The rental rate may be adjusted based on the difference between
    estimated supplementary rental and actual maintenance expenses of the underlying assets as
    explained in DMMD Circular No. 10, dated June 17, 2014. For first rental period, the supplementary rental amount is Rs.25.00 million. This profit rate will be applicable to all accepted bids in this auction.

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