Sri Lanka raises over US$200mn from dollar bonds

Sept 04, 2013 (LBO) – Sri Lanka has raised over 200 million US dollars from dollar denominated bonds from mainly Middle Eastern banks, Central Bank Governor Nivard Cabraal said. The government has received funds up to three years through the sale of bonds styled ‘Sri Lanka Development Bonds (SLDBs) last week, Cabraal said.

This is the first time SLDBs have been sold in large quantities abroad. The bonds are usually sold among domestic investors including banks who are eligible to hold dollar assets.

On Friday liquidity in Sri Lanka’s interbank markets surged with the foreign inflow.