August 02, 2007 (LBO) – Sri Lanka has appointed J P Morgan, Barclays Capital and HSBC to raise 500 million dollars from international market, the government’s debt office said. Twelve international banks and investment houses submitted their proposals and made presentations to be lead managers.
Citibank, Standard Chartered, Deutsche Bank, UBS Warburg were also in the running for the deal. The Central Bank which runs the debt office said the banks would act as lead mangers bookrunners and underwriters to the issue.
HSBC came with state-owned Bank of Ceylon as a partner.
“This debut sovereign bond issue is also expected to serve as a benchmark for other corporate borrowers in Sri Lanka which have the capability of raising money in international capital markets,” the Central Bank said in a statement.