Sri Lanka sells US$165 million in floating rate bonds
ECONOMYNEXT – Sri Lanka has sold 165.25 million dollars of floating rate bonds which includes 110 million US dollars of 1 year and 3 month bonds at 342.99 basis points above the 6-month London Interbank Offered Rate.
The debt office also sold 55.25 million US dollars of 2 year bonds which will pay 365.36 basis points above the 6-month Libor.
The securities styled Sri Lanka Development Bonds are aimed at the domestic markets but non-residents could also buy them. The debt office said it received bids of 113.25 million dollars for 15 month bonds and 59.25 million in bids for 2 year bonds.
About 170 million dollars of floating rate bonds are coming up for rollover this month.