SriLanka state airline sells US$175mn bond at 7.00-pct

ECONOMYNEXT – State-run SriLankan Airlines has sold a 175 million US dollar bond guaranteed by Sri Lanka’s government for 7.00 percent, a media report said.

Bloomberg Newswires said the yield narrowed to 7.0 percent after initial price guidance around 7.5 percent.

SriLankan is rolling over a 175 million US dollar bond that is falling due this month, which was issued five years ago.

The bond was rated ‘B’ by Fitch and Standard and Poor’s in line with Sri Lanka’s sovereign ‘B’ rating.

The issue was managed by Credit Suisse and Standard Chartered. (Colombo/June21/2019)

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