Sri Lanka NSB hires HSBC, Citi, Barclays to lead manage bond

Mar 06, 2013 (LBO) – Sri Lanka’s state-run National Savings Bank has hired HSBC, Citibank and Barclays to lead manage an international bond sale of up to a billion US dollars, sources familiar with the deal said. In 2012 Sri Lanka sold a billion dollar sovereign bond and state-run Bank of Ceylon raised another 500 million US dollars from international markets.

Authorities have said that Sri Lanka’s government is not directly going to international capital markets this year.

The sale is expected to begin with the next three to four weeks, market sources said.

By September 2012 NSB had 481 billion rupees in assets or about 3.7 billion US dollars.

National Development Bank and DFCC Bank are also expected to raise 250 million US dollars from international markets this year.