Central Bank raises US$ 55.25 mn worth of two-year debt at 163.48 basis points above six months LIBOR rates

The Central Bank has raised US$ 55.25 mn for the government through two-year Sri Lanka Development Bonds priced at 163.48 basis points above the six month’s London Interbank offered rate (LIBOR). The Central Bank has raised US$ 55.25 mn for the government through two-year Sri Lanka Development Bonds priced at 163.48 basis points above the six month’s London Interbank offered rate (LIBOR). The issue, forms a third tranche of the government’s plans to raise US$ 250 mn to bridge the budget deficit this year.

The bank said it got offers for US$ 122.26 mn worth of bids, but accepted only US$ 55.25 mn with interest payable on a semi-annual basis, Acting Superintendent of Public Debt, Dr. W M Hemachandra said.

The previous US$ 50 mn raised in August, was priced at 179.51 basis points above the six month’s LIBOR.

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