Mar 17, 2009 (LBO) – Sri Lanka has raised 184.25 million US dollars in 2-year bonds at a premium of 540 basis points above the London Interbank Offered Rate (LIBOR), the government’s debt office said. The bonds are bought by mostly resident investors who have access to foreign currency including banks. Sri Lanka offered to sell 200 million US dollars worth of bonds, ahead of a maturing tranche of 215 million US dollars of so-called Sri Lanka Development Bonds.
Two years ago the bonds were raised at 144.06 basis points above LIBOR.
The public debt office said 196.
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25 million dollars of bids were received but 184.25 million worth bids were accepted at a weighted average yield of 5.40 percent basis points above LIBOR.
Today’s LIBOR was 1.88 percent.
On September 15, 2008, Sri Lanka raised 60 million US dollars from bonds at a weighted average price of 308.9 basis points above LIBOR.
In June Sri Lanka raised 230 million US dollars at an average of 294 basis points above LIBOR ahead of a maturing 250 million dollar bond tranche.