Sri Lanka sells US$172 million floating rate bonds
ECONOMYNEXT – Sri Lanka has sold 172.3 million dollars of floating rate bond with tenors of 1 year 7 months and 2 year 5 months, the state debt office said.
The debt office sold 78.10 million US dollars of 1 year 7 month bonds at 349.47 basis points above the 6-month London Interbank Offered Rate.
Another 94.27 million US dollars of 2 year 5 month bonds were sold at 373.83 basis points above 6-month LIBOR.
The bonds, styled Sri Lanka Development Bonds are targeted at the domestic market.
The bond have to be settled on August 18. On that date 30 million US dollars of 4-year bonds sold in 2011 and 141 million dollars of 3-year bonds sold in 2012 are maturing. (Colombo/Aug13/2015)