Sri Lanka Development Bonds sold at yields of up to 6.80-pct

ECONOMYNEXT – Sri Lanka has sold 100 million dollars of dollar-denominated bonds with tenors of 1 year 1 month to 4-years 6-months at yields between 6.57 percent to 6.80 percent after calling bid for the same amount, the state debt office said.

The Sri Lanka Development Bond styled securities are targeted at the domestic bidders who are allowed to keep dollar deposits such as banks and exporters.

The debt office sold 75.33 million US dollars of 1-year, 1-month bonds for an average yield of 6.57 percent after getting bids of 105.33 million dollars. One million dollars of floating rate bonds were also sold at 6.09 percent above the 6-month London Interbank Offered Rate.

In June Sri Lanka sold 1-year 2-month dollar bonds for 6.67 percent.

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The debt office also sold 19 million dollars of 1-year 8-month bonds at 6.62 percent after getting bids for 20 million dollars.

Another 6.12 million dollars of 2-year 9-month bonds were sold at an average yield of 6.69 percent after getting 11.96 million dollars of bids.

0.55 million dollars of 4-year 6-month bonds were sold at 6.80 percent.

Sri Lanka rupee securities yields have fallen below dollar bonds. On July 22, Sri Lanka sold 12-month bills for 4.86 percent. (Colombo/July28/2020)