Sri Lanka to raise US$500mn from sovereign bond

Apr 03, 2014 (LBO) – Sri Lanka is planning to sell a 5-year, 500 million US dollar sovereign bond amid more stable international conditions, market sources said. Citi, HSBC and Standard Chartered, who arranged a billion US dollar bond in January 2014, have been retained to sell the bond.

The January bond due in 2019, which was sold to yield 6.0 percent a year, is now trading at around 4.8/9 percent levels, according to Bloomberg data.

Sri Lanka said in a budget for 2014 that up to 1.5 billion US dollars would be raised from international markets during the year.