Sri Lanka selects Bank of America, Citi, HSBC, Barclays to sell sovereign bond

June 21, 2012 (LBO) – Sri Lanka has selected Bank of America, Citi, HSBC and Barclays Capital to sell sovereign bond of up to a billion US dollars this year, the Central Bank which raises debt for the Treasury said. In October, Sri Lanka’s maiden 500 million US dollar sovereign bond is maturing.

State-run Peoples’ Bank will be co-lead manager. In past bond sales state-run Bank of Ceylon has been a co-lead manager.

Sri Lanka last year sold a 10-year billion dollar bond to yield 6.25 percent which is now trading around 5.96 percent, lower than some European countries, analysts said.