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

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