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Sri Lanka sells US$973mn in dollar denominated bonds

ECONOMYNEXT – Sri Lanka has sold $973.25 million of bonds in 1, 2, 3 and 5-year tenors, with a bulk of it coming in floating rates after calling bids for $830 million of securities.

The debt office said it sold $177 million of 1-year Sri Lanka Development Bonds, paying 254.97 basis points above the 6-month London Interbank Offered Rate.

It sold $341 million of 2-year bonds priced 319.15 basis points above 6-month Libor, $74.27 million of 3-year bonds priced 373 basis points above Libor and $288.73 million of bonds priced 396.04 basis points above Libor.

It also sold $81 million of 1-year bonds paying an average fixed rate of 426.54 basis points, $7 million of 2-year bonds paying 440 basis points and $4 million of 3-year bonds paying 480 basis points.

The date of settlement is March 17, 2017. (Colombo/Mar14/2017)

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