Sri Lanka Treasuries eyed by Japanese buyer: foreign ministry

Sun, 26 May 2013 05:36:54

27 Jun, 2012 13:35:27

June 27, 2012 (LBO) - Bansai Securities, a Tokyo based investment house is planning to buy 10 billion yen (125 million US dollars) worth Sri Lanka rupee Treasuries, over the next 12 months, the foreign ministry said.

The first tranche of 1.5 million US dollars is expected to be made before 15 July 2012.

The New World Securities [Pvt] Limited, a Japanese Securities firm authorized to trade in shares and financial instrument in Sri Lanka is lead manager to the deal and Pan Asia Banking Coporation Plc, will be facilitator, the foreign ministry said.

"The Embassy of Sri Lanka in Tokyo has played an active role in securing the proposed investment," the foreign ministry said.

"It has conducted several high-net worth investor awareness programmes with the help of the New World Securities [Pvt.] Limited.

"Proposed investment is expected to popularise T-bills and T-bonds among Japanese investors."

Sri Lanka's Treasury bills now yield between 11 percent (3-months) and 12.78 percent (one year). Two year Treasury bonds yield 13.00 percent and 15 year bonds yield 14.5 percent.