Government to borrow over Rs. 52 bn from local market next month

The Central Bank is issuing US$ 55.25 mn development bonds, Rs. 9 bn worth of treasury bonds and rolling over Rs. 37,589 mn worth of treasury bills in September. The Central Bank is issuing US$ 55.25 mn development bonds, Rs. 9 bn worth of treasury bonds and rolling over Rs. 37,589 mn worth of treasury bills in September. The two-year Sri Lanka Development Bonds will open for subscription from September 9-14, with settlement fixed for Sept. 20.

Of the Rs. 41,629 mn worth of treasury bills maturing, the bank has opted to re-issue only Rs. 37,589 mn worth of paper. The balance Rs. 4,040 mn will be retired.

The bank is auctioning three-year bonds worth Rs. 9 bn carrying a 7.80 percent coupon.

-LBO Newsdesk: LBOEmail@vanguardlanka.com