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Leading News from Sri Lanka::

* Sri Lanka Central Bank finalizes the US$ 100 million bond issue
Fri, Mar 26, 2010, 10:44 pm SL Time, ColomboPage News Desk, Sri Lanka.

Mar 26, Colombo: Sri Lanka Central Bank said US$ 100 million Sri Lanka Development Bonds (SLDBs) offer issued on March 12th on behalf of the Government, was closed today.

The bonds offered were amounted to US$ 50 million with 2 year maturity and US$ 50 million with 3 year maturity.

The offer was oversubscribed 1.34 times by both foreign and local commercial banks, with the total bids received amounting to US$ 134 million.

The settlement for the issue took place today for a total of US$ 92 million that was raised through the auction held on March 18, 2010 and the balance US$ 8 million was mobilized via placements, the Bank said.

Accordingly, the total issue of this SLDBs amounted to US$ 45 million of 2 year bonds and US$ 55 million of 3 year bonds at the rates of US dollar 6 month LIBOR + 380 basis points and US dollar 6 month LIBOR + 395 basis points, respectively.

The Central Bank expressed satisfaction that the successful conclusion of the first development bond issue in the year is an indication of a very positive start that clearly reflects investors' confidence and their preference to invest funds in foreign currency denominated bonds issued by the Sri Lankan government.


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