Sri Lanka appoints three managers for Samurai bond

Tokyo suburb
NEW MARKET: Sri Lanka is selling Yen bonds targeting Japan for the first time.

ECONOMYNEXT – Sri Lanka has appointed three joint lead managers for a 500 million US dollar equivalent Samurai bond which will have a guarantee from the Japan Bank for International Corporation.

The cabinet of ministers had approved the appointment of Mizuho Securities Company Ltd, SMBC Nikko Securities Inc and Mitsubishi UFJ Morgan Stanley Securities Co. Ltd.

The 10-year Samurai bond will be equivalent to 500 million US dollars or 60 billion yen.

Sri Lanka is selling bonds under a new debt management law, which allow the country to raise excess funds to settle maturing bonds early, when there is bunching up. (Colombo/Oct11/2019)

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