Sri Lanka sells US$187mn in 3-year floating rate bonds

Mar 10, 2014 (LBO) – Sri Lanka has sold 187 million dollars of 3-year bonds at a yield of 400 basis points above the London Interbank Offered Rate, the state debt office said. The bonds are mostly bought by Colombo-based banks and investors who are allowed to hold foreign currency assets.

On March 10, LIBOR was 0.3318 percent, the debt office said.

The debt office had offered 60 million US dollars of securities styled ‘Sri Lanka Development Bonds’ and had received bids for 3.1 times that amount.