Country Road

Top Central Bank and Treasury officials will hit the road next week to raise dollar funds for the government.
The US$ 100 mn fund raising exercise will see a Lankan team touching Singapore, Dubai, Bahrain, London and Abu Dhabi.rn

rnCentral Banks Deputy Governor, W A Wijewardene will lead the local delegation from November 11-14.rn

rnLast month, Deutsche Bank and UBS Warburg won the mandate to jointly raise US$ 100 mn through a five-year floating rate note. The lead managers have the option of raising a further US$ 50 mn if the terms are favourable to the government.rn

rnCitibank was also given the mandate to raise US$ 150 mn through a five-year syndicated loan. The issue comes with a 90 percent guarantee from Japanese government backed Nippon Export Investment Insurance Co. or NEXI. The funds will be raised purely through Japanese banks.rn