Sri Lanka’s NDB banks sells Rs5.37bn bail-in bonds

ECONOMYNEXT – Sri Lanka’s NDB Bank said it had received orders for 5.37 billion rupees of bail-in bonds when subscriptions closed.

The bank offered 5.0 billion rupees of bonds and a further 1.5 billion rupees of bonds if the initial issue was oversubscribed.

On March 25, NDB said the 5.0 billion rupee threshold was reached and the offer will close.

The bank offered 5-year bonds paying a coupon on 13.5 percent every six months and 5-year bonds paying 13.95 percent a year every year. (Colombo/Mar27/2019-SB)

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