Sri Lanka sells one billion US dollar bond at 6.0-pct

Jan 07, 2014 (LBO) – Sri Lanka has raised a billion US dollars from a 5-year sovereign bond at 6.0 percent. The bond proceeds are expected to ease government borrowing requirements and help keep interest rates in check. A source close to the deal said the offer had generated over 3.0 billion US dollars in orders from investors and it had been closed in the early hours of today, in Sri Lanka time.

The sale was managed by Citi, HSBC, Standard Chartered and UBS.

The bond has a settlement date of January 14, Bloomberg newswires said.