Long Term Dues

Superintendent Public Debt, Dharma Dheerasinghe told Lanka Business Online that the bank hopes to offer around Rs. 1.5 bn at the initial issue.

rnrnThe bond is likely to be priced at around 12 percent to 13 percent, though market players are expecting to bid at around 15.5 percent.

rnrnThe ten-year bond, the first in Sri Lanka, has whipped up a lot of enthusiasm and is likely to be snapped up by pension and insurance funds.

rnrnMeanwhile, Thursday
quote s two-year bond auction was oversubscribed with the bank receiving bids for Rs. 6.322 bn. However, the bank offered and accepted bids for Rs. 2.000 bn carrying a coupon of 12.50 percent.

rnrnThe weighted average yield rose to 13.91 percent as against 13.73 percent offered earlier this month.rn