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* Sri Lanka to raise US$ 1.5 billion through sovereign bonds next year
Thu, Dec 19, 2013, 12:48 am SL Time, ColomboPage News Desk, Sri Lanka.

Dec 18, Colombo: Sri Lanka will offer two long-term international bonds next year to raise US$ 1.5 billion next year, Central Bank officials said.

Sri Lanka, with sovereign ratings (B1/B+/BB-), will offer two US$ 750 million long-term sovereign bonds in 2014, Governor of Central Bank Ajith Nivard Cabraal said.

The offering, the sovereign's fifth US-dollar deal, was priced to yield 437.1bp above US Treasuries, according to Reuters report.

In July 2012 Sri Lanka successfully launched and priced a US$ 1.0 billion 10-year International Sovereign Bond offering at a fixed-rate yield of 5.875%. The issue was oversubscribed 10.5 times at US$ 10.5 billion with orders from 425 accounts showing the international investor confidence in the country. Sri Lanka did not issue a sovereign bond this year.

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