Sri Lanka selects HSBC, Bank of America, RBS for sovereign bond

Aug 12, 2010 (LBO) – Sri Lanka’s central bank has chosen Hongkong and Shanghai Banking Corporation (HSBC), Bank of America Merrill Lynch and the Royal Bank of Scotland (RBS) to handle a planned billion dollar sovereign bond issue.

It said in a statement the three were selected as joint lead managers and bookrunners for the bond after evaluation of the proposals received from seven international investment banks.

The state-run Bank of Ceylon has been appointed as a co-manager to work with the three Joint Lead Managers to execute the proposed bond issuance, it said.

The international sovereign bond issue of a billion dollars “will be timed subject to market conditions probably later this year,” the central bank said.