Sri Lanka to raise US$1.5bn through international bonds in 2014

Nov 21, 2013 (LBO) – Sri Lanka is evaluating lead managers to sell international bonds in 2014 who will advise on the timing and mix of the program, Central Bank Governor Nivard Cabraal said. The government planned to build 50,000 high quality houses in estates to replace existing “poor quality” houses, he said.

Bids to select lead managers closed on Monday.

A budget for 2014 said Sri Lanka wanted to raise a 750 million dollar sovereign bond.

Another 750 million US dollars would be raised by Sri Lanka’s Urban Development Authority under a Treasury guarantee.

UDA money will be used to build urban and estate housing, President Mahinda Rajapasksa said.