Sri Lanka’s Central Bank to sell USD 75mn worth development bonds

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Jan 08, 2016 (LBO) – The Central Bank will issue 75 million US dollars of development bonds of one year, two years and three months, and four years and five months to local and foreign investors.

The Debt Department said the subscription will be at a floating rate of US dollar six month LIBOR plus a margin (floating rate) or at a fixed rate to be determined through competitive bidding.

Minimum investment is 100,000 US dollars with additional investments in multiples of 10,000 US dollars.

The issue will be open for subscription from 11 to 18 January and has a date of settlement of 21 January 2015.

Development bonds are to be issued by the Public Debt Department of Central Bank and exempted from income tax paid in Sri Lanka.