Sri Lanka launches sovereign bond; price guidance 5.5-pct

CEAT Kelani Holdings Managing Director Ravi Dadlani (right) and Lanka Ashok Leyland CEO Umesh Gautham exchange the OEM agreement

April 7, 2014 (LBO) – Sri Lanka has begun selling a 500 million US dollar sovereign bond in international markets, a media report said. Bloomberg newswires said price guidance for the 5-year bond has been set at around 5.5 percent.

Sri Lanka sold a 5-year one billion dollar bond at 6.0 percent in January but its yield has come down in secondary trading since then.

Citigroup, HSBC and Standard Chartered are managing the issue.

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