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Sri Lanka sells Rs35bn in 03 and 8-year bonds

ECONOMYNEXT – Sri Lanka has sold 35 billion rupees in 2023 and 2028 bonds after offering 50 billion rupees at the auction, data from the state debt office showed.

The debt office sold 30 billion rupees in 2-year, 8-month bonds maturing on January 15, 2023 after offering 30 billion.

The debt office also sold 5.605 billion rupees of 8-year 2 month bonds maturing 01 July 2028 at 8.85 percent after offering 20 billion rupees.

Though bonds were under sold, there were no maturities. An estimated 16 billion rupees of coupons were due.

On April 29, however Sri Lanka failed to roll-over the total maturing bonds of 110 billion rupees. It is almost unheard of in Sri Lanka for bond auctions to fail.

Sri Lanka had also failed to roll-over bills for at least three auctions and had instead printed money.
The 2 year bonds sold on May 12, were marginally above market and 8-year bonds were at market levels, dealers said. (Colombo/May12/2020)

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