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. 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.

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.