Sri Lanka to raise at least US$450mn from 3-year loan

ECONOMYNEXT – Sri Lanka will raise at least 450 million dollars from a syndicated loan for which the government has selected 6 banks, a media report said.

Bloomberg Newswires said Bank of Baroda, Deutsche Bank, Indian Bank, Qatar National Bank, SBI, SMBC will arrange the loan.

Last year Sri Lanka raised 700 million dollars from a syndicated loan. Sri Lanka has a ‘B+’ speculative rating. Fitch has just upgrade the outlook to ‘stable’ from ‘negative’.

Sri Lanka wanted to raise about a billion US dollars from the syndicated loan.  (Colombo/Feb22/2017)

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