Sri Lanka may launch Samurai bond in October

ECONOMYNEXT – Sri Lanka has sought clearance from the cabinet of ministers to appoint managers to sell a yen denominated bond in Japan, which may be launched around October, Central Bank Governor Indrajit Coomaraswamy said.

The paper is due to considered by the cabinet next Tuesday, he said.

"We were told that it would a good time to the Japanese markets is October because their first half financial year finishes in September," Coomaraswamy said.

Sri Lanka will seek about 500 million US dollar equivalent from Samurai bond, he said.

The Japan Bank for International Co-operation (JBIC) has offered a 95 percent credit guarantee.

Coomaraswamy said Sri Lanka has met about a dozen Japanese institutions were supportive of the bond with a JBIC guarantee. (Colombo/Aug23/2019)