Sri Lanka sells US$239.4mn 3-year bonds

June 23, 2014 (LBO) – Sri Lanka has sold 239.5 million US dollars in 3-year bonds to at price of 375 basis points above the 6-monmth London interbank offered rate, the state debt office said. The bonds are sold to domestic banks and investors who are allowed have dollar assets.

The market was offered 50 million US dollars of so-called Sri Lanka Development Bonds. The 6-month Libor rates was 0.3243 percent on June 23, which have a settlement date of June 30.