Category: Money

Cash rich National Savings Bank bought up Rs. 60 mn worth of securitised paper last week, locking its returns for up to one year.Cash rich National Savings Bank bought up Rs. 60 mn worth of securitised paper last week, locking its returns for up to one year. Ceylease Financial Services and People’s Merchant Bank issued […]

Citibank N.A’s Sri Lankan unit has kept its AAA (sri) membership during a recent annual review conducted by Fitch Ratings Lanka.Citibank N.A’s Sri Lankan unit has kept its AAA (sri) membership during a recent annual review conducted by Fitch Ratings Lanka. The Triple A rating for Citibank’s unsecured senior debt reflects a very low expectation […]

Yields for three month treasuries move up at Wednesdays auction indicating market demand for short-term maturities.rnrn rnHowever, the Central Bank said that yields for six and twelve month paper rnremained unchanged. rn rnResults as follows:rn rn rn rn   rn rn rn Bids rn Rcvd rn rn rn rn Amount Accp rn rn rn Avg. […]

Senkadagala Finance is coming out with a Rs. 52.4 mn debt paper backed by an A (sri) rating from Fitch Ratings Lanka.The Rs. 52.4 mn issue is part of a larger Rs. 250 mn securitisation deal structured by Capital Alliance, says Senkadagala Managing Director, Lakshman Balasuriya.rn rnThe Leased Backed Trust Certificates (LBTC) will be issued […]

The Aitken Spence Group secured an AA (sri) rating for its upcoming Rs. 1 bn five-year unlisted debenture issue from Fitch Ratings Lanka. The group needs the cash to fund its 100 MW power plant in Embilipitya and feed some of its ongoing capital expenditure programmes.rn rnFitch also confirmed an AA (sri) rating for Aitken […]

Sri Lankas foreign reserves slipped 3.7 percent dip in April, slightly above a 5.7 percent drop in January 2004, according to latest data released by the Central Bank.rnrn Official or rnCentral Bank reserves slipped to US$ 2,242.3 mn, while total reserves, which rnalso include private holdings, rose 3.3 percent to US$ 3,323.6 mn.rn rn Sri […]

The Central Bank says it will re-issue Rs. 7 bn worth of two-year treasury bonds and Rs.44,837 mn in treasury bills to the debt market, as part of its borrowing programme for July.Of the Rs. 46,837 bn worth of treasury bills maturing, the bank has opted to re-issue only Rs.44,837 bn worth of paper. The […]

Sri Lanka Telecom has picked UBS Warburg and Standard Chartered Bank as arrangers to its upcoming US$ 100 mn bond issue.The five-year loan will carry a fixed interest rate. Mobitel will use up around 65 percent of the bond, and the balance spent to retire some of SLTs existing debts and roll out its network. […]

The Central Bank said Monday that it had accepted US$ 144.75 mn worth of two-year bids for the first tranche of the governments US$ 100 mn issue.The bank said it received bids worth US$ 182.25 mn, when the issue opened from June 15-18.rn rnThe offer was linked to the six month London interbank offered rate […]

Hatton National Bank on Thursday inked a deal to execute a US$ 36.5 mn interest rate swap for power generator Heladhanavi Ltd.Heladhanavi, a joint venture between the Hemas Group and Lakdhanavi, had last July signed up for US$ 47 mn in debt, payable over a seven-year period at three-percent over LIBOR (London Interbank Offered Rate).rn […]

Three month treasury rates edged up at Wednesdays auction, stoked on by market appetite for debt paper with shorter tenures.The Central Bank said that three-month yields inched up one basis point to 7.83 percent, while six and one-year paper remained flat at 7.78 percent and 7.75 percent respectively.rn rnA total of Rs. 6,906 mn worth […]

The overnight repurchase rate (repo rate) was kept at 7.0 percent and the reverse repurchase rate (reverse repo) at 8.50 percent, the bank said in a statement following its monthly Monetary Policy Meeting late Tuesday. rn rnSecondary market bond rates have been jittery in the last few weeks after the President Chandrika Kumaratungas government opted […]