Sri Lanka sovereign bond pricing narrowed

Apr 07, 2014 (LBO) – Price guidance on a 500 million US dollar 5-year bond being sold by Sri Lanka has narrowed to around 5.25 percent, a report said. The bond is expected to close later today, after US markets open.

The sale is managed by Citigroup, HSBC and Standard Chartered. The bond was launched earlier Monday with a tentative price of 5.5 percent, with a 5-year security sold in January at 6.0 percent trading below 5.0 percent in the secondary market.

Price guidance has since been narrowed to 5.125 – 5.25 percent levels, Bloomberg Newswires reported, quoting a person familiar with the matter.