Sri Lanka launches 5 and 10-year sovereign bonds

ECONOMYNEXT – Sri Lanka has launched a 5 and 10 year sovereign bonds Thursday, a report said after a budget was presented to parliament Wednesday and the International Monetary Fund said it had reached a staff level agreement to continue a reform program earlier in the month.

Bloomberg Newswires said initial price guidance on the 5-year bond was around 7.2 percent and the 10 year 8.2 percent.

Sri Lanka had said it was trying to acquire 2.0 billion US dollars or more in international capital markets in 2019 with parliament giving the Central Bank permission to raise more debt than required for the current year, to manage debt.

The debt sale is being managed by BOC International, Citigroup, Deutsche Bank, HSBC, JP Morgan, SMBC Nikko, and Standard Chartered.

On March 5, Sri Lanka presented a budget with an ambitious 4.4 percent budget deficit target. (Colombo/Mar06/2019-SB)

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