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Sri Lanka to issue US$ 515 million development bonds

Central Bank has announced that it plans to sell US$ 515 million worth of development bonds to foreign and local investors.

The Public Debt Department of Central Bank will issue US$ 515 million in Sri Lanka Development Bonds 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.

Minimum investment is US$ 10,000 with additional investments in multiples of US$ 10,000. The bonds are exempted from income tax paid in Sri Lanka.

The issue will be open for subscription from 11.00 am on 20 June 2017 to 10.00 am on 27 June 2017.

The bonds have a settlement date of 30 June 2017.

 

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