Sri Lanka sells US$129mn in floating rate bonds

Mar 19, 2013 (LBO) – Sri Lanka has sold 129 million US dollars in 3-year dollar denominated bond at an average yield of 400 basis points above the London interbank offered rate, the public debt office said. Styled ‘Sri Lanka Development Bonds’, the dollar denominated instruments are sold to banks and other domestic investors who are eligible to hold dollar assets.

The public debt office offered to sell 50 million US dollars of maturing bond and said the offer was oversubscribed.

The rate was the same as an auction held on February 15, the debt office said. Today’s Libor rate was 0.4454 percent.