Lankapage Logo Recent Top Stories
CP 14 YEARS
Go Home Home Serving the Sri Lankan community globally since 2000
go to LankaPage.com

Leading News from Sri Lanka::

* Sri Lanka launches US$ 500 million sovereign bond issue at 5.125%
Tue, Apr 8, 2014, 08:51 am SL Time, ColomboPage News Desk, Sri Lanka.

Apr 08, Colombo: The Sri Lankan government Monday has launched a US$ 500 million International Sovereign Bond issue at a yield of 5.125 percent per year, the Central Bank said today.

The issue represents the balance of the US$ 1,500 million International Sovereign Bond programme approved for 2014 and carries the lowest among all the US Dollar benchmark offering by Sri Lanka in the international bond markets.

Citigroup, The Hong Kong and Shanghai Banking Corporation Limited and Standard Chartered Bank acted as Joint Lead Managers/Book runners on the transaction.

Fitch Ratings, Moody's Investors Service and Standard and Poors have rated the Issue at 'BB-', B1 and B+' respectively.

Following the heavy interest from investors across Asia, Middle-East, Europe and the USA, Sri Lanka priced the Issue at a yield of 5.125 percent after initially placing it at 5.50 percent per year.

This tighter yield reflects the continued confidence that the international investors have placed in the sovereign bond issuance of Sri Lanka, the Central Bank said.

The issue has been oversubscribed 8.3 times to US$ 4.25 billion within six hours from 287 accounts with well-diversified invstors, according to the Central Bank.

Asian investors subscribed 32 percent, Europe 22 percent and the US at 46 percent. Global Fund Managers were the largest investors, representing 81 percent, with Banks, Private Banks and insurance agencies taking 13 percent, 3 percent and 3 percent respectively.

Sri Lanka's previous five-year Issuances in 2007, 2009 and January 2014 were priced at yields of 8.25 percent, 7.40 percent and 6.00 percent respectively.

ColomboPage - Recent 10 Stories
Shortage of human resources is the main challenge for Sri Lanka's Health Sector
-- [1 hour and 55 minutes ago]
Sri Lanka Supreme Court rejects MP Wimal Weerawansa's petition
-- [2 hours ago]
President briefs Canada's Foreign Minister on Sri Lanka's progress on good governance, reconciliation and development
-- [3 hours ago]
Masterful Kusal Mendis steers Sri Lanka ahead
-- [4 hours ago]
Sri Lankan government has created a conducive economic environment for local and foreign investors - Finance Minister
-- [4 hours ago]
U.S. working to strengthen relationship with Sri Lanka military
-- [5 hours ago]
Sri Lanka Customs guards receive training from Army
-- [5 hours ago]
Sri Lanka Navy assists repatriation of 77 Indian fishermen
-- [6 hours ago]
JKOA rewards top performers at annual Dealer Convention
-- [6 hours ago]
Sri Lanka Central Bank raises policy interest rates tightening the monetary policy
-- [7 hours ago]

Copyright © 2000, 2014 by LankaPage.com (LLC) :
The news and other contents on ColomboPage are copyrighted property of LankaPage.com, LLC. Any unauthorized use of any information on ColomboPage may constitute a violation of copyright laws. You need written permission to reproduce, republish, post, transmit, broadcast or distribute, material from this site from LankaPage.com, LLC. However, news organizations or broadcasters in Sri Lanka may republish the news items in ColomboPage with proper acknowledgment to ColomboPage.