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Sri Lanka sovereign bond price guidance tightened
July 17, 2012 (LBO) – The price guidance on a 10-year billion US dollar bond by Sri Lanka has been narrowed to around 5.875 to 6.0 percent from an initial rate of 6.125 percent, in the wake of a strong order book, sources said. Sri Lanka raised a billion dollars last year at 6.25 percent […]
” by S & P
July 17, 2012 (LBO) – A sovereign bond launched by Sri Lanka Tuesday has been rated ‘B+’ with a stable outlook, by Standard and Poor’s on post-war growth prospects and planned fiscal reforms. However the rating was affected by weak external liquidity, increasing external debt, fundamental fiscal weaknesses, and political institutions that lack transparency and […]
‘BB- (exp) by Fitch
July 17, 2012 (LBO) – Fitch Ratings has given a ‘BB- (exp)’ rating with a stable outlook for a 10-year sovereign bond launched Tuesday. The full statement is reproduced below Fitch Rates Sri Lanka’s Upcoming Bond ‘BB-(exp)’ Fitch Ratings-Hong Kong-17 July 2012: Fitch Ratings has assigned Sri Lanka’s upcoming USD-denominated global bonds due 2022 an […]
‘s
July 17, 2012 (LBO) – A 10-year sovereign bond launched by Sri Lanka Tuesday in international markets has been rated (P) B1 by Moody’s, a rating agency which said the country’s external sector has stabilized following policy measures. “The rating continues to be encumbered by the reduction of its large debt overhang and the consequently […]
Sri Lanka launches 2022 sovereign bond
July 17, 2012 (LBO) – Sri Lanka has launched a 10-year sovereign bond with order books opening in Asia on an initial price guidance of 6.125 percent, sources familiar with the issue said. Since its maiden 500 million US dollar 5-year bond in 2007, Sri Lanka has gone to the market four times, with the […]
Sri Lanka stocks down 0.5-pct, rupee weaker
July 17, 2012 (LBO) – Sri Lanka’s stocks fell 0.5 percent Tuesday, with large cap stocks including banks losing ground, in a day which a billion US dollar bond was launched in international capital markets, brokers said. Analysts say if the bond proceeds are bought by the Central Bank and large volumes of rupees dumped […]
Screech
July 17, 2012 (LBO) – Sri Lanka’s new vehicle registrations plunged 46 percent to 21,587 in June 2012 from a year earlier, with new three wheelers falling 64 percent an analysis by an equities research unit has shown. An analysis of new vehicle registrations by JB Stockbrokers said new car registrations fell 66 percent to […]
Investment Award
July 17, 2012 (LBO) – NDB Investment Bank, a unit of Sri Lanka’s NDB group said it had been ranked the best investment bank in Sri Lanka by Euromoney, a specialist financial publication in its 2012 awards. NDBIB struck a partnership with DBS Bank Singapore last year. Vajira Kulatilaka, head of NDB group’s investment banking […]
Stocked Up
July 17, 2012 (LBO) – London Stock Exchange group said its Millennium Exchange software has been deployed at the Mongolian Stock Exchange, making in the third location to go live with the platform after Italy and South Africa. “The development of stable, efficient and transparent capital markets infrastructure is a vital step in Mongolia’s journey […]
Sri Lanka and Vietnam plan preferential trade deal
July 17, 2012 (LBO) – Sri Lanka and Vietnam are moving towards a preferential trade deal removing non-tarrif barriers and increasing improving air links between the two countries, following, the foreign ministry said. Sri Lanka and Vietnam is also co-operating on defence and maritime security, the statement said. Joint Commission meeting of Sri Lanka and […]
Sri Lanka in push for stronger economic ties with US
July 17, 2012 (LBO) – Sri Lanka is pushing for stronger economic ties with the United States which will strengthen overall diplomatic relations between the two countries, a top diplomat said. “At this point we have a very straightforward and genuine relationship with the US,” Sri Lanka’s envoy to the United States, Jaliya Wickremasuriya said. […]
Sri Lanka money markets tight, rupee steady
July 16, 2012 (LBO) – Sri Lanka’s cash markets were tight Monday with overnight gilt backed money quoted at 9. 55/65 percent very close to the Central Bank’s policy rate despite some excess liquidity, and the rupee was steady against the US dollar, dealers said. The rupee opened somewhat wide at 133.70/90 to the US […]