Sri Lanka sells $100mn of 5 year development bonds; rejects all bids at 2 and 3 years

Mar 27, 2015 (LBO) – The issue of Sri Lanka development bonds amounting to 75 million US dollars have been oversubscribed with 100 million US dollars of bids received from investors. The central bank has accepted 100 million US dollars of five year bonds at a rate of 6 month US dollars LIBOR plus a weighted average margin of 405 basis points.

The bank rejected 25.0 million US dollars of bids received for the 2 year bond offered.

The bond auction held on Friday also rejected 18.0 million US dollars of bids received for 3 years.