The issue of Sri Lanka Development Bonds (SLDBs) for US$ 515 million has been oversubscribed nearly two-fold with total bids received amounting to nearly US$ 1 billion, the Central Bank said on Wednesday.
The Central Bank on behalf of the government offered to issue of US$ 515 million of 1 year 7 months, 3 years, 4 years, and 4 years and 9 Months tenor to eligible investors for subscription at a rate of either US Dollar 6 month LIBOR plus a margin (floating rate) or at a fixed rate to be determined through competitive bidding.
The issue was open for subscription from 20 – 27 June 2017.
The Central Bank has received US$ 452.55 million of bids for the one year seven months bond and the bank has accepted US$ 73.93 million at a floating rate of six month LIBOR plus 274.93 basis points.
The Bank has also received US$ 181.29 million of bids for the three year bond and the bank has accepted US$ 107.65 million at a floating rate of six month LIBOR plus 364.86 basis points.
Four year bond received bids of US$ 181.15 million and the bank has accepted US$ 158.10 million at a floating rate of six month LIBOR plus 387.69 basis points.