Sri Lanka calls for proposals to appoint arrangers for JPY 60bn Samurai bond

Sep 09, 2019 (LBO) – Sri Lanka’s Central Bank on behalf of the government has invited proposals from banks and investment houses for consideration to be appointed as Joint Lead Arrangers for the proposed Samurai bond issuance.

The government intends to issue a bond up to about 60 billion Japanese yen in a benchmark size single tranche with a fixed coupon of 10-year maturity as its first Samurai bond issuance.

The Central Bank received cabinet nod to appoint lead managers to launch Sri Lanka’s first-ever yen-denominated Samurai bond issuance worth 500 million US dollars in Japan.

The government earlier said it intends to issue sovereign bonds with potential credit enhancement from Japan Bank for International Cooperation (JBIC) in Japanese Yen (Samurai bonds) under the Active Liability Management Act.

In this perspective, JPY denominated bonds for benchmark size issuances will be exercisable in single or multiple tranches with competitive fixed coupons and in medium to long term maturities.