HSBC in seven Sri Lanka sovereign bond sales in a row

Apr 08, 2014 (LBO) – HSBC said it had helped lead manage all seven sovereign bond sales for Sri Lanka since 2007 following the latest sale Monday of 500 million US dollar 5-year bond for 5.125 percent. Public debt is managed for the Treasury by the Central Bank of Sri Lanka (CBSL).

“We feel it’s a great privilege to be entrusted with this seventh consecutive bond issue from the Government,” HSBC Sri Lanka chief executive Patrick Gallagher said in a statement.

“The ability of the sovereign to keep attracting a strong investor base is testament to the positive credit story of the country and the untiring efforts of the CBSL team.”

In January Sri Lanka raised a billion US dollars for 6.0 percent also for five years.

The offer drew orders for 4.25 billion rupees or 8.3 times the offer from 287 potential buyers.