Sri Lanka to wrap up US$700mn syndicated loan in days
ECONOMYNEXT – Sri Lanka is expected to wrap up a $700 million syndicated loan in days, ending the country’s external borrowings for the year, officials said.
Sri Lanka was originally expected to raise $500 million from the three-year syndicated loan, where lead arrangers Citi, CS Singapore, Emirates NBD, HSBC and Mashreq gave an early $300 million.
Sri Lanka is not expected to go for foreign more foreign borrowings in 2016, Central Bank Governor Indrajit Coomaraswamy said.
Sri Lanka also sold a $1.5 billion sovereign bond.
Proceeds of the bond were also used to repay a maturing Sri Lanka Development Board tranche earlier this month. (Colombo/Aug31/2016)