Category: Economy and Markets
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July 14, 2016 (LBO) – Fitch Ratings has assigned Sri Lanka’s upcoming US dollar-denominated bonds an expected rating of ‘B+(EXP)’. The ratings agency said the expected rating is in line with Sri Lanka’s Long-Term Foreign-Currency Issuer Default Rating (IDR) of ‘B+’ with a Negative Outlook. “The rating would be sensitive to any changes in Sri Lanka’s […]
Korea pledges USD300mn development loans to Sri Lanka till 2018
July 14, 2016 (LBO) – A framework arrangement enabling Sri Lanka to obtain soft loans from the government of Korea up to 300 million dollars till 2018 was signed on July 13, 2016, a statement said. “This Framework Arrangement is based on the agreement between the two governments signed in December 1995 concerning Loans from […]
New incentive structure for investments in coming weeks: PM
July 13, 2016 (LBO) – Sri Lanka will unleash a new incentive structure for specific investment sectors coupled with a simplified tax system in the coming weeks, Prime Minister Ranil Wickremesinghe said. Wickremesinghe said the government has already identified specific sectors that generate high employment opportunities to offer new incentives. “I want to encourage both […]
Sri Lankan rupee firms on dollar selling by foreign bank; stocks rise
July 13, 2016 (Reuters) – The Sri Lankan rupee rose on Wednesday as a foreign bank sold dollars on behalf of investors keen to buy local bonds after Finance Minister Ravi Karunanayake said the currency would rise on expected inflows from a sovereign bond issue, dealers said. Sri Lanka raised $1.5 billion in its first […]
PTL Watch: Sri Lanka bond yields dip further 5-10 bp
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Dialog Axiata names Supun Weerasinghe in CEO succession plan
July 13, 2016 (LBO) – Telecommunications blue chip Dialog Axiata PLC, in a release to the Colombo Stock Exchange, said company has commenced preparation for the succession of its Group Chief Executive at year end 2016. “The announcement of succession follows Dr Hans Wijayasuriya, the Group Chief Executive of Dialog, taking on additional regional responsibilities […]
Sri Lanka govt finances on track as per budget: Ravi K
July 13, 2016 (LBO) – Sri Lanka’s government finances this year are on target as estimated in the last budget, Finance Minister Ravi Karunanayake said. “Our revenues are on target as per the last budget. Excise collections are up 40 percent,” Karunanayake told reporters without giving details. Sri Lanka has revised down the 2016 budget […]
PTL Watch: Sri Lanka bond yields dip after sovereign issue
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July 12, 2016 (LBO) – S&P Global Ratings has assigned its ‘B+’ long-term issue rating to the global bond issued by Sri Lanka (B+/Negative/B). The senior unsecured bond constitutes direct, unconditional, unsubordinated, and unsecured general obligations of the issuer, and payments will be backed by the full faith and credit of Sri Lanka. The dual tranche […]
‘s sovereign bond orders hit USD5.5 bln, govt raises USD1.5 bln (Updated)
July 12, 2016 (LBO) – The Central Bank of Sri Lanka on behalf of the government successfully raised 500 million dollars through 5.5-year sovereign bonds and one billion dollars through 10-year sovereign bonds The Central Bank said the “successful issuance” was Sri Lanka’s 10th US Dollar bond issuance and the first dual-tranche offering. The Bonds […]
‘s sovereign bond orders top USD4.5 bln: source
HONG KONG/COLOMBO July 11 (Reuters) – Sri Lanka’s first dual-tranche sovereign bond orders exceeded $4.5 billion while the final guidance for both tranches fell at least 25 basis points from the initial guidance, a source close to the deal told Reuters. The source said the final guidance for the 5.5-year tranche was about 5.8 percent […]
PTL Watch: Yields ease ahead of sovereign bond issue
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