Sri Lanka sells US$126mn in floating rate bonds

June 21, 2011 (LBO) – Sri Lanka has sold 126.5 million US dollars worth three and four year dollar bonds, with floating rates based on the 6-month London interbank offered rate, the government’s debt office said. The government offered 100 million US dollars in bonds for sale and offers for 134.5 million were received, the debt office said.

Three-year bonds of 103.5 million US dollars were sold at a weighted average yield of 6-month Libor plus 356 basis points.

Four year bonds of 23 million US dollars were sold at 6-month Libor plus 375 basis points. The Libor rate was 0.39 percent on Tuesday, the debt office said.