Sri Lanka gets ready to raise US$2bn in sovereign bonds
Jan 18, 2019 12:44 PM GMT+0530 | 1 Comment(s)
TIMING: Sri Lanka bond yields soared after a political crisis in October. But yields have eased in the second week of January.
ECONOMYNEXT - Sri Lanka's cabinet of ministers has given the nod to raise up to 2 billion US dollars in sovereign bonds in 2019, State Minister of Finance Eran Wickramaratne said.
Sri Lanka will go to market with differed tenors and volumes at opportune times, he said.
A sovereign bond usually has a volume of at least 500 million US dollars.
Sri Lanka's sovereign bond yields had edged up in 2018 amid rising US rates, but yields soared to prohibitive levels of after President Maithripala Sirisena triggered a political crisis on October 26.
On January 14 Sri Lanka repaid a billion US dollar bond without rolling it over.
Sri Lanka bond yields have fallen sharply close to level seen before the so-called constitutional coup in October. (Colombo/Jan18/2018)