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Sri Lanka sells US$81.25mn in floating rates bonds

COLOMBO (EconomyNext) – Sri Lanka has sold 81.25 million US dollars of 2 and 3 year floating rate bonds following an auction, after calling offers for 25 million US dollars each, the state debt office said.

The debt office sold 30 million US dollars of 2-year bond at 360 basis points above the 6-month London Interbank Offered Rate and 51.25 million US dollars of 3-year bonds at 377.20 percent above Libor.

The debt office said it got 45 million US dollars of bids for the 2-year bonds and 63.25 million dollars in bonds for the 3-year bonds.

Sri Lanka last sold 156.5 million dollars of 3-year dollar paying an interest rate of 377 basis points above the 6-month Libor on March 09.