Sri Lanka development bonds oversubscribed by 3.45 times

Mar 10, 2015 (LBO) – The issue of Sri Lanka development bonds amounting to 50 million US dollars have been oversubscribed with 172.5 million US dollars of bids received from investors.

The offer was opened from 02 to 09 March for bidding with the settlement on 16 March 2015.

The central bank has accepted 156.5 million US dollars of three year bonds at a rate of 6 month US dollars LIBOR plus a weighted average margin of 377 basis points.

The bank rejected 16.5 million US dollars of bids received for the 10 year bond offered.