Sri Lanka to sell US$50mn 3 and 10-year floating rate bonds

COLOMBO (EconomyNext) – Sri Lanka is calling offers to sell 50 million US dollars in 3 and 10 year bonds with a floating or fixed coupon.

The dollar denominated Sri Lanka Development Bonds, are targeted at resident investors, banks and companies that are allowed to hold foreign currency assets.

The state debt office said bids will close on March 09 with settlement on March 16.

The debt office had in the past taken more than the original offer.

The floating rate will be based on the 6-month London Interbank offered rate plus margin.

Update II