SriLankan raises US$175mn; Asian investors take up 60-pct: report

June 24, 2014 (LBO) – State-run SriLankan Airlines had sold 175 million US dollars of 5-year bonds to yield 5.3 percent with Asia based investors taking up 60 percent of the securities, a media report said. Bloomberg Newswires said European investors took up 25 percent and Middle Eastern investors 15 percent.

About 85 percent were banks and funds and 15 percent were private banks. The securities are guaranteed by the Sri Lanka government. The money will be used to make pre-payments for new aircraft and also for working capital.

The sale was managed by Standard Chartered.