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Thursday December 2nd, 2021
Bonds & Forex

Sri Lanka Development Bond auction for US$75mn opens

ECONOMYNEXT – A Sri Lanka Development Bond auction of 75 million US dollars has been announced with bids to close on August 11 with around 151 million US dollars of bonds to mature on August 15.

The local-law dollar denominated bonds can be bought by banks, exporters and those with personal or business foreign currency accounts and foreign investors.

The minimum application is 10,000 US dollars.

Bids can be submitted for 9 month, 1 year 7 month, 3 year 5 month and 4 year 11 month bonds.

At the last auction on July 30, 9 month bonds paid 7.69 percent, 1 year 1 months 7.67 percent, 2 year 9 months 7.98 percent and 5 years 7.60 percent.

The rupee 12 month yield is only 5.28 percent.

The central bank has defended the 12-month bills by printing large volumes of money, triggering a balance of payments crisis.

This week bonds were also bought to defend a pattern of interest rates in the bond market. (Colombo/Aug06/2021)

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