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Sri Lanka sells US$301mn in floating rate bonds

ECONOMYNEXT – Sri Lanka has sold 301 million US dollars of floating rate dollar denominated bond with most of the money coming from 13 month securities, data from the state debt office showed.

The debt office sold 291 million dollars of 13-month bond paying 330.97 basis points above the London Interbank Offered Rate, after getting bids for 293 million dollars.

The debt office also sold 10 million dollars of 2-year, 9-month bolds at 360 basis points above LIBOR after getting bids for 12 million US dollars.

The securities styled ‘Sri Lanka Development Bonds’ is aimed at the domestic market but could be bought both by resident and non-resident investors. (Colombo/July13/2015)

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