Sri Lanka sells US$327mn in floating rate bonds

COLOMBO (EconomyNext) – Sri Lanka has sold 327 million US dollars of floating rate dollar denominated bonds with tenors ranging from 22 months to 5 years, the state debt office said.

The debt styled Sri Lanka Development Bonds are targeted mainly at the domestic market and can be bought by resident investors qualified to hold dollar assets and also non-residents.

The debt office sold 255 million dollars of 1 year and 10 month bonds paying 6-month 340.12 basis points above the 6-month London Interbank Offered Rate, after getting bids for 262 million dollars.

Bids for 35 million dollars of 3-year and 7 month bonds were accepted at a yield of 376.43 basis points above the London Interbank Offered Rate.

The debt office also sold 37 million dollars of 5-year bonds at 410.95 basis points above 6-month Libor after getting bids of 60 million dollars.

The settlement date is June 29.

 

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