Sri Lanka’s Central Bank to sell USD200mn worth development bonds

central bank of sri lanka

Mar 01, 2016 (LBO) – The Central Bank will issue 200 million US dollars of development bonds with a tenor of 3 months, 5 months, 1 Year and 2 Years 1 month to local and foreign investors.

The Debt Department said the subscription will be at a floating rate of 6 month LIBOR for USD plus a margin through competitive bidding 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 3 to 9 March and has a date of settlement of 11 March 2016.

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

Foreign citizens and entities, non resident Sri Lankans, Sri Lankan dual citizens, authorized dealers in foreign exchange, primary dealers in government securities, BOI specified companies and specified insurance companies are eligible investors.