ECONOMYNEXT - Sri Lanka's 2.5 billion US dollar sovereign bond sale had got 6.5 billion dollars of orders, with most of the bonds being snapped up by US investors, a report said.
Bloomberg Newswires said subscriptions for a 10-year bond reached 3.5 billion US dollars. US based investors had bought 65 percent of the 1.25 billion bonds sold. Europeans had bought 29 percent and Asians 6 percent.
Fund managers bought 92 percent, insurers 5 percent and banks 2 percent, Bloomberg said.
Subscriptions for the 5 year bond was 3.0 billion dollars from 235 investors. US investors had bought 66 percent of the 1.25 billion dollar issue and Europe based investors 66 percent. Asian base investors bought 10 percent.
Fund managers had bought 92 percent, pension funds and insurers 5 percent and banks 1 percent.
Sri Lanka sold the 10-year bond at a yield of 6.75 percent and the 5-year bond at a yield of 5.75 percent.
The sale is managed by Citibank, Deutsche Bank, HSBC, JPMorgan and Standard Chartered.