Sri Lanka’s Bank of Ceylon launches 13.5-pct 5-year debt sale

ECONOMYNEXT – Sri Lanka’s state-run Bank of Ceylon is offering 5-year publicly traded debt paying 13.25 percent in an 8.0 billion rupee sale fixed and floating rate bonds that opens on December 21.

The bank is offering 5-year bonds (Type A) paying a fixed rate of 13.25 percent annually, and 8 -year bonds paying a fixed rate of 12.75 percent.

It is also offering 5-year floating rate bonds at the 6-month gross Treasury bill rate plus 1.25 percent and 8-year bonds also on the same basis.

Bank of Ceylon in Sri Lanka’s largest lender.

Fitch Ratings has issued a ‘AA(lka)’ rating for the issue.

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