Sri Lanka sells US$375mn in short term dollar paper, bonds
Mar 23, 2016 18:56 PM GMT+0530 | 0 Comment(s)
ECONOMYNEXT - Sri Lanka has sold 375 million dollars in 3 and 6 month paper and 1 and 2 year dollar denominated bonds at an auction Wednesday, where yields edged up, data from the state debt office showed.
The debt office sold 10.3 million dollars 3 month bills at 472.12 basis points fixed, down from 475 basis points on March 09.
The debt office also sold 38.88 million dollars in six month paper, at a floating rate of 407.14 basis points above 6-month London Interbank Offered rate. On March 09, five month paper was sold at 381.22 basis points above Libor.
In one year bonds, 203.46 million dollars were old at 439.2 basis points above 60month Libor, up from up from 430.89 basis points above Libor on March 09.
In 2-year bonds 71 million dollars' worth were sold at 448.73 basis points, higher than 444.58 basis points above Libor paid for 2 years and 1 month paper on March 09.
About 0.04 million dollars of 1 year bonds were also sold at a fixed rate of 525 basis points.
The Sri Lanka Development Bonds are sold to resident and non-resident investors who can hold dollar assets, under Sri Lanka law. (Colombo/Mar23/2016)