Sri Lanka sells US$285mn fixed and floating rate bonds
ECONOMYNEXT – Sri Lanka sold 285.18 million dollars of fixed and floating rate bonds with the market showing a strong demand for floating rates.
The so-called Sri Lanka Development Bonds (SLDB) are mainly sold to domestic investors who are permitted to hold foreign currency assets including banks and exporters.
The debt office sold 70 million dollars of one year bonds at 426.57 basis points a year after getting bids for 79.25 million dollars.
19.0 million dollars of 1 year floating rate bonds were sold at 254.79 basis points above the 6-month London Interbank Offered Rate after getting bids for 19 million dollars.
62.15 million dollars of 1 year 10 month bonds were sold at 319.08 basis points above Libor.
44.28 million dollars of 2 year 10 month bonds were sold at 372.44 basis points above Libor.
89.75 million dollars of 4 year 10 month bonds were sold at 412.06 basis points above Libor. The settlement date is May 09, 2017. (Colombo/May07/2017)