‘s Central Bank rejects all bids sent in for the three-year bond auction

Author lbostgadmin | Posted on October 4, 2005 | Bills & Bonds

Sri Lanka’s Central Bank on Tuesday rejected all bids sent in for the three-year bond auction today, but did not give any reason.
Sri Lanka’s Central Bank on Tuesday rejected all bids sent in for the three-year bond auction today, but did not give any reason. The bank said it received offers worth Rs.
2.08 billion for the billion rupee issue, which carried a coupon rate of 11.
5 percent.

Three-year paper currently trades at between 11.
02-05 percent in the secondary market.

Market players said that the bank was expecting bids lower than 11 percent, which may have been the reason to call the auction off.

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