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Sri Lanka frees 2,000 prisoners to mark Freedom Day
Feb 4 (AFP) – Sri Lankan authorities Saturday freed nearly 2,000 convicts to mark the island’s 58th anniversary of independence from Britain, a prison spokesman said. A presidential pardon helped 1,995 inmates, including 57 women, serving time for minor offences to leave prisons across the island, the spokesman said adding that 450 of them were […]
Sri Lanka shows military might as Tigers protest anniversary
Feb 4 (AFP) – Sri Lanka put on a bristling display of its military might to mark freedom day Saturday as Tamil rebels forced a work stoppage ahead of key talks to save a tenuous truce in the strife-torn island.Shops were closed and public transport was off the streets in the restive northeastern port district […]
Junk bonds for patriots
Feb.03, 2006 (LBO) — Sri Lanka Friday announced plans to issue US$250million-worth of sovereign bonds with the first US$25 million tranche going on sale next Monday, officials said. Treasury Secretary P. B. Jayasundera said the securities dubbed, “Sri Lanka Nation Building Bonds,” give expatriate countrymen a chance to take part in the island’s development activities. […]
Billion dollar bond to hit the road shortly
Feb. 3 (LBO)- Sri Lanka will shortly start selling a billion dollars in government bonds with the help of Citibank, Treasury Secretary Jayasundara said Friday. “Citibank has been appointed and we will finalise the process within the next two weeks,” Jayasundara told reporters. Jayasundara said the structure of the billion-dollar issue is being worked out […]
Tsunami Line
Feb 03 (LBO) – Sri Lanka’s DFCC Bank is in line to pick up over €70million worth of concessionary funding lines this year, as it looks for ways to expand its loan book, a top official said Thursday. Germany’s flagship public development bank Kreditanstalt für Wideraufbau (KfW), is leading the way, with a €5.45 million […]
Bond Show
Feb. 3 (LBO) – Sri Lanka will shortly start selling a billion dollars in government bonds with the help of Citibank, Treasury Secretary P B Jayasundara said Friday.“Citibank has been appointed and we will finalise the process within the next two weeks,” Jayasundara told reporters. Jayasundara said the structure of the billion-dollar issue is being […]
Patriotic Rates
Feb.03 (LBO) — Sri Lanka Friday announced plans to issue US0 million-worth of sovereign bonds with the first US million tranche going on sale next Monday, officials said.Treasury Secretary P B Jayasundera said the securities dubbed, “Sri Lanka Nation Building Bonds,” give expatriate countrymen a chance to take part in the island’s development activities. “We […]
Donors back out of Tiger Talks
Feb 03 (LBO) – Sri Lanka’s key international donors put off their Friday meeting with Tamil Tiger rebels, following protests by Marxists and Buddhist monks.“After a consultation with the Government and the LTTE, the heads of agencies of ADB, IMF and World Bank have postponed their visit to Kilinochchi.The visit will be rescheduled after the […]
Citibank tipped to lead manage billion dollar sovereign bond issue
Feb. 02 (LBO) – Citibank is likely to get the mandate to raise a billion dollars for the Sri Lanka government through sovereign bonds this year, Lanka Business Online learns. The seven year bonds, would carry a six-month floating rate, based on the London Inter Bank Offered Rate (LIBOR). Last December, Citibank raised US$ 100 […]
Billion Bond
Feb. 02 (LBO) – Citibank is likely to get the mandate to raise a billion dollars for the Sri Lanka government through sovereign bonds this year, Lanka Business Online learns.The seven year bonds, would carry a six-month floating rate, based on the London Inter Bank Offered Rate (LIBOR). Last December, Citibank raised US$ 100 million […]
Union Rating
Feb.01 (LBO) – Fitch Ratings assigned a ‘BB+ (sri)’ national rating to the Implied Long-term Unsecured Senior Debt of Union Bank of Colombo on Wednesday. The rating points to possible credit risks developing, particularly as a result of adverse economic change over time. Fitch however, said business or financial alternatives may be available to meet […]
Bomb scare puts off Sri Lanka MP’s
Colombo, Feb 2 (PTI) Panic-stricken Sri Lankan legislators today agreed to put off their sittings by nearly two weeks following a bomb scare inside the assembly hall. Speaker W. J. M. Lokubandara said political party leaders agreed to put off the assembly till February 14. The assembly opened today half an hour behind schedule after […]