Sri Lanka launches 5, 10-year sovereign bonds

ECONOMYNEXT – Sri Lanka has launched a sovereign bond sale offering 5 and 10 year tenors with initial price guidance of around 6 to 7 percent.

A sovereign bond has a minimum size of 500 million dollars.

Sri Lanka was planning to raise up to 1.5 billion dollars in sovereign bonds this year depending on market conditions.

Bloomberg Newswires said the 5-year bond had an initial price guidance of around 6 percent and the 10 year about 7 percent.

Sri Lanka’s 2027 sovereign bond sold last year which is now 9 years was quoted around 6.57 percent levels, on Wednesday dealers said.

Sri Lanka’s 2022 bond was quoted around 5.28 percent.

US bond yields have been around 2.6 percent for 5-year ad and 2.79 for 10 year in recent days. (Colombo/Mar11/2018)

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