quote s auction saw yields for two, three and four years come under the hammer.
rnrnThe bank offered and accepted Rs. 2.000 bn two-year notes carrying a 12.50 percent coupon. The issue was oversubscribed with bids amounting to Rs. 9.350 bn. The weighted average yield slipped 148 basis points to 14.16 percent (with tax).
rnrnThree-year bonds of Rs. 1.500 bn carrying a 12.25 percent coupon were offered and accepted. The issue was oversubscribed with Rs. 3.925 bn bids. The weighted average yield shed 47 basis points (with tax) to 14.79 percent.
rnrnThe bank offered and accepted Rs. 1.500 bn four-year bonds carrying a coupon rate of 12.00 percent. But the issue was oversubscribed with Rs. 3.523 bn. The weighted average yield lost 24 basis points (with tax) to 15.23 percent.rn