Sri Lanka NSB raises 750mn at 8.875-pct

Sept 13, 2013 (LBO) – Sri Lanka’s state-run National Savings Bank has raised 750 million US dollars at 8.875 percent, international capital market sources said. Price guidance for the bond was initially set at 9.25 percent amid volatile global conditions but narrowed to 8.875 percent amid stronger orders.

The bank went to the market for 500 million US dollars and had collected orders worth 2.0 billion US dollars, sources said.

Some investors who had bought Bank of Ceylon bonds earlier had sold out to buy into NSB.

The yield on BOC bond had widened as a result, they said. .