The US$ 100 mn loan to the government arranged through Citibank NA, will come into the Treasury
quote s coffers next Monday.
The treasury is expected to retire Rs. 7 bn worth of bills next week with the money, says Central Bank
quote s Deputy Governor, W A Wijewardene.rn
rnBacked by the Nippon Export Investment Insurance Company of Japan, the five-year loan carries a floating rate of 175 basis points over the London Interbank offered rate or LIBOR.rn
rnAround 12 international investment banks had earlier responded to the government
quote s invitation to raise US$ 350 mn in long-term funds last year.rn
rnThe Treasury had evaluated some 40 proposals and picked Citibank offer, which came with Japanese government guarantee.rn