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Sri Lanka launches 10-year sovereign bond

ECONOMYNEXT – Sri Lanka has started selling a 10-year sovereign bond with initial price guidance around 6.625 percent as the country reached agreement with the International Monetary Fund to continue a program.

Bloomberg Newswires said the bond is expected to be finally priced later today.

Marketing of a bond usually starts with Asian markets, and moves to Europe and closes after US markets open later in the day.

Sri Lanka was planning to raise up to 1.5 billion US dollars from international sovereign bonds this year. A minimum deal size of a sovereign bond is 500 million dollars.

The sale is lead managed by Citi, Deutsche Bank, HSBC, JP Morgan, Standard Chartered, China’s ICBCI and CITIC CLSA. (Colombo/May04/2017)

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