Sri Lanka sells US$338mn in 1 and 2 year floating rate bonds
COLOMBO (EconomyNext) – Sri Lanka sold 338 million dollars in 1 year 1 month and 2 years 11 month Sri Lanka Development Bonds at yields lower than the last auction.
The central bank offered 100 million in Sri Lanka Development Bonds.
For the 1 year 1 month bonds it accepted 329 million dollars worth of bids after getting bids of up to 359 million dollars at a Weighted Average Margin (bps) over 6 month LIBOR of 316.69 bps.
At the last SLDB auction on April 30 the two year bonds were sold at a yield of 6 month LIBOR plus 360 bps, dealers said.
For the 2 year and 11 month bonds the central bank got bids worth 36.86 million dollars and accepted only 9 million dollars at rate of 6 month LIBOR plus 353.89 bps.
At the previous auction for 3 year bonds the yield was 6 month LIBOR plus 377.2 bps.
The deal has to be settled on June 01.
Updated – settlement date added