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Sri Lanka to sell 200 million dollars in bonds to residents

May 28, 2008 (LBO) - Sri Lanka is offering 200 million dollars worth bonds to resident investors next month, the government's debt office said.

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The securities, called Sri Lanka Development Bonds (SLDBs), are offered on three maturities, the Public Debt Department, which is a unit of Sri Lanka's central bank, said in a letter to market participants.

A 250 million dollar SLDB issue is maturing this month.

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The government is offering 125 million dollars of 2-year bonds, 50 million dollars in 3-year bonds and 25 million dollars in 5-year bonds with subscription opening on June 16.

The offer closes on June 23.

Sri Lanka is also in the process of raising another 200 million dollars through a syndicated loan.