Sri Lanka sells US229mn in 3-year bonds

June 25, 2012 (LBO) – Sri Lanka has sold 229.02 million US dollars in 3-year floating rate bonds which will pay an average of 410 basis points above the London Interbank Offered Rate every six months, the state debt office said. Bids were originally called for the sale of only 150 million US dollars of so-called ‘Sri Lanka Development Bond’ mainly aimed at the qualified domestic customers who have authority to keep dollar assets.

On March 19, Sri Lanka sold 3-year bonds at Libor plus 385 basis points, indicating a slight ticking up of rates.

The bond tranche has a settlement date of July 02, the debt office said.