Sri Lanka sells US$330mn in floating rate bonds

ECONOMYNEXT – Sri Lanka has sold 330 million US dollars of floating rate bonds with 277.5 million US dollars coming from one-year bonds paying 335.95 basis points above the 6-month London Interbank offered rate.

The debt office also sold 50 million US dollars of 4-year, 8-month bonds paying 405 basis points above Libor at an auction on October 15. The settlement date is October 19.

Another 2.5 million US dollars of 3-year, 3-month bonds were also sold for 370 basis points above Libor.

The ‘Sri Lanka Development Bond (SLDB)’ styled securities are mainly targeted at the domestic market. (Colombo/Oct16/2015)

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