ECONOMYNEXT – A total of 11.93 million US dollars of Sri Lanka Development Bonds was sold at an auction where 220 million dollars of securities were offered, data from the state debt office showed.
The auction was sharply undersubscribed with only 18.53 million dollars of bids being made.
Investors bid 2.80 million dollars for 7 month bonds and none were accepted.
Investors bid 13.63 million dollars for 1 year 4 month bonds and 9.83 million dollars were accepted at a weighted average yield of 6.29 percent.
Investors had bid 2.10 million dollars for 4 year 1 month Sri Lanka Development Bonds and all were accepted at a weighted average yield of 6.50 percent.
Settlement is on April 01.
Sri Lanka’s sovereign bonds had fallen steeply from March as the rupee came under pressure and are quoted at 30 to 40 percent below par. (Colombo/Apr01/2020)