Sri Lanka raises US$60mn in 2-year bonds

Sept 15, 2008 (LBO) – Sri Lanka has raised 60 million US dollars in 2-year bonds at a premium of 2.895 percent above the London Interbank Offered Rate (LIBOR) to help repay a maturing 70 million US dollar bond issue, the government’s debt office said. The Central Bank said the money would go to settle a 70 million dollar bond that was maturing this month.

The auction which closed Monday had attracted bids worth 75 million US dollars, the debt office, which is a unit of the Central Bank, said.

The bonds pay interest ever six months. On Monday the US dollar 6-month LIBOR rate was 3.0894 percent.