Sri Lanka sells US$156mn in 3-year floating rate bonds

COLOMBO (EconomyNext) – Sri Lanka has sold 156.5 million dollars of 3-year dollar bonds which will pay an interest rate of 377 basis points above the 6-month London Interbank Offered Rate, the state debt office said.

The debt office offered to sell 3 or 10 year ‘Sri Lanka Development Bonds’ at either floating or fixed rated. Bids of 172.5 million were received for 3-year bonds and 16.5 million dollars for the 10 year bond.

There were no offers at fixed rates.

Sri Lanka last sold 3-year bonds on June 23, 2014 raising 239.5 million US dollars at Libor plus 375 basis points.

Update II

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