Sri Lanka sells USD278mn in bonds

June 21, 2010 (LBO) – Sri Lanka has sold 278 million US dollars in two and three year bonds at prices over 380 basis points above the 6-month London Interbank Offered Rate, rolling over 275 million US dollars of maturing debt. The government’s debt office said it sold 102 million US dollars of 3-year bonds for 395 basis points above LIBOR and 176 million US dollars of 2-year bonds for 380 basis points above LIBOR.

The debt office which is a unit of the Central Bank said the 6-month LIBOR rate was 75 basis points today.

By rolling 102 million US dollars in maturing bonds in a 3-year tenor, the government has extend their maturity by one year.

In 2012 Sri Lanka has a large volume of maturing commercial debt.

Correction – 06 month LIBOR rate 75 basis points, not 750 basis points