Lanka Business Online

Sri Lanka sells US229mn in 3-year bonds

June 25, 2012 (LBO) – Sri Lanka has sold 229.02 million US dollars in 3-year floating rate bonds which will pay an average of 410 basis points above the London Interbank Offered Rate every six months, the state debt office said.

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Bids were originally called for the sale of only 150 million US dollars of so-called ‘Sri Lanka Development Bond’ mainly aimed at the qualified domestic customers who have authority to keep dollar assets.

On March 19, Sri Lanka sold 3-year bonds at Libor plus 385 basis points, indicating a slight ticking up of rates.

The bond tranche has a settlement date of July 02, the debt office said.

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