SriLankan raises US$175mn; Asian investors take up 60-pct: report

June 24, 2014 (LBO) – State-run SriLankan Airlines had sold 175 million US dollars of 5-year bonds to yield 5.3 percent with Asia based investors taking up 60 percent of the securities, a media report said. Bloomberg Newswires said European investors took up 25 percent and Middle Eastern investors 15 percent.

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About 85 percent were banks and funds and 15 percent were private banks. The securities are guaranteed by the Sri Lanka government.

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The money will be used to make pre-payments for new aircraft and also for working capital.

The sale was managed by Standard Chartered.

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