Sri Lanka offers for US100mn floating rate bonds
ECONOMYNEXT – Sri Lanka has offered to sell 100 million US dollars of floating rate bonds of 1-year 7-months and 2-year 5-months, but the debt office said higher volumes may be accepted, depending market conditions.
The auction has a settlement date of August 18.
On August 18, about 170 million dollars of floating rate bonds sold in 2011 and 2012 are maturing.
The securities, styled ‘Sri Lanka Development Bonds’ pay interest based on the 6-month London Interbank Offered Rate and are targeted at the domestic market but can also be bought by foreign investors.