Home / BUSINESS / Development Bonds issue for US$ 515 mn oversubscribed

Development Bonds issue for US$ 515 mn oversubscribed

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.

About neo

Check Also

Committee for updating petroleum prices once in three months

The cabinet of Ministers has granted approval to appoint a committee consisting of the officials …

Leave a Reply

Your email address will not be published. Required fields are marked *