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Sri Lanka sells 3-year bonds at 8.15-pct, 7-years rejected

COLOMBO (EconomyNext) – Sri Lanka has sold 4.56 billion rupees of 3-year bonds to yield 8.15 percent rejecting bids for a 7-year bond offered at the same time, the state debt office said.

The debt office offered 3.0 billion rupees each in 3 and 7 -year bonds.

The bond was sharply down from the 8.70 percent sold at the last auction on March 11, following the controversial sale of a 30-year bond at more than 200 basis points over recent sales, which shifted the entire yeild curve up.

The 3-year bond maturing on 01.06.2018 were closed around 8.13/16 percent Monday, dealers said.

Corrected – volume of 3-year bonds sold Rs4.56bn