Sri Lanka’s UDA to sell Rs30bn listed debt

Aug 01, 2014 (LBO) – Sri Lanka’s Urban Development Authority is planning to sell up to 30 billion rupees of Treasury guarantee listed debt in three tranches, Chairman Nimal Perera said. The cash will used to build 30,000 houses he said.

The sale will be managed by state-run People’s Bank.

The agency wants to first sell 10 billion rupees of debentures in the first tranche, followed by another 10 billion tranche next year.

“Like that will go up to 30 billion in a period of 3-4 years,” Perera said.