Sri Lanka bonds yields down on sovereign bond launch

ECONOMYNEXT – Sri Lanka’s domestic bond yields fell Thursday on news that a sovereign dollar bond has been launched abroad, while the rupee weakened slightly in currency markets, dealers said.

Stock closed flat with the Colombo All Share Index at 5,725 points, up 0.01 percent on turnover of 637 million rupees.

Sri Lanka started selling 5 and 10 year sovereign bonds Thursday with initial price guidance of 7.20 percent and 8.20 percent, which was narrowed later in the day.

The rupee edged marginally lower to 178.45/55 to the US dollar, from 178.30/45 a day earlier. Bond yields fell 15 to 20 basis points across maturities.

Twelve-month bills were traded as low as 10.49 percent down from 10.60/65 percent levels earlier in the week.

A bond maturing on 01.08.2021 closed at 10.57/65 percent, down from 10.70/77 percent on Wednesday.

A bond maturing on 15.07.2023 closed at 10.70/73 percent down from 10.85/95 percent on Wednesday.

A 7-year bond maturing 01.08.2026 closed at 10.90/97 down from 11.13/20 percent a day earlier.

A bond maturing on 15.06.2027, closed at 11.02/08 down from yesterday’s 11.20/25 percent on Wednesday. (Colombo/Mar07/2019-SB)

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