Sri Lanka to raise USD1000mn via ETFF to finance budget expenses

Mar 27, 2018 (LBO) – Government says it intends to raise a Foreign Currency Term Financing Facility (FTFF) denominated in US Dollars or Japanese Yen or Euro or their combinations up to 1,000 million dollars or its equivalent in 2018.

The FTFF is expected to be raised at a fixed rate or a floating rate, linked to the USD, JPY or Euro 6 Month LlBOR or its successor with a maturity period of 3 years or more.

Central Bank announced that the proceeds of the FTFF will be used for the purposes of financing the expenditure as approved in the Budget for the fiscal year 2018.

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