Sri Lanka sells US$126mn in floating rate bonds

June 21, 2011 (LBO) – Sri Lanka has sold 126.

5 million US dollars worth three and four year dollar bonds, with floating rates based on the 6-month London interbank offered rate, the government’s debt office said. The government offered 100 million US dollars in bonds for sale and offers for 134.

5 million were received, the debt office said.

Three-year bonds of 103.5 million US dollars were sold at a weighted average yield of 6-month Libor plus 356 basis points.

Four year bonds of 23 million US dollars were sold at 6-month Libor plus 375 basis points.

The Libor rate was 0.39 percent on Tuesday, the debt office said.