Pakistan raises Rs 47.54bn from Islamic bond sale

KARACHI: Pakistan raised 47.54 billion rupees ($555 million) by selling Islamic bonds in the domestic market, the central bank said on Tuesday.

The cut-off margin will be the six-month treasury bill weighted average yield, which in the last auction on Feb. 23, was 13.6750 percent.

The issue, known as the Government of Pakistan Ijara Sukuk, is a three-year bond.

Settlement for the auction held on Tuesday will be on March 7. (Reuters)