Lankapage Logo Recent Top Stories
Go Home Home Serving the Sri Lankan community globally since 2000
go to

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
A sub-sea power cable from India can be a solution for Sri Lanka power crisis - PUCSL
-- [17 minutes ago]
Suspect in the murder of Lasantha Wickrematunge granted bail
-- [52 minutes ago]
Sri Lankan Muslims to protest against government over the vote on Temple Mount resolution
-- [1 hour and 10 minutes ago]
Sri Lanka Army Mine Detection Dog Team receives international recognition as 2016 Team of the Year
-- [2 hours ago]
No VAT for 82 essential consumer goods from November 1
Sri Lanka Muslim Council welcomes decision to amend Muslim Marriage and Divorce Act, expresses concern over Minister's statement
Sri Lanka calls for IORA to move into a new era of dynamism
Sri Lanka PM outlines economic plan for next five years
Special jury to hear Tamil MP's murder case
Indonesia, Sri Lanka agree to take forward several bilateral initiatives to elevate relationship

Copyright © 2000, 2014 by (LLC) :
The news and other contents on ColomboPage are copyrighted property of, 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, LLC. However, news organizations or broadcasters in Sri Lanka may republish the news items in ColomboPage with proper acknowledgment to ColomboPage.