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 Development Bonds issue oversubscribed 4.8 times to US$ 239.5 million
Mon, Jun 23, 2014, 07:03 pm SL Time, ColomboPage News Desk, Sri Lanka.

June 23, Colombo: The issue of Sri Lanka Development Bonds (SLDBs) for US$ 50 million has been oversubscribed by 4.8 times with total bid received amounting to US$ 239.5 million the Central Bank said on Monday.

The Central Bank on behalf of the government has offered to issue of US$ 60 million in 3-year tenor to eligible investors for subscription at a rate of US$ 6 month LIBOR plus a margin to be determined through competitive bidding.

Both foreign and local commercial banks have subscribed bids at the auction that was opened from June 16 - 23 for bidding. The bonds have a settlement date on June 30.

Considering the high demand from the investors at a highly competitive margin for SLDBs and providing an opportunity for investors to invest their funds for a longer period, the government has decided to accept the entire US$ 239.5 million in 3 year maturity at the market determined rates of US Dollar 6 month LIBOR + 375 bps (weighted average margin, the Bank said in a statement.

According to the Central Bank, six-month LIBOR on Friday, June 23, 2014 was at 0.3234percent.

The SLDBs are transferable by endorsement, delivery and registration with the Superintendent of Public Debt of the Central Bank of Sri Lanka. Eligible investors may purchase SLDBs in the secondary market through Designated Agents appointed by the Central Bank of Sri Lanka.

ColomboPage - Recent 10 Stories
Boat carrying Sri Lankan asylum seekers arrives in Cocos Islands - report
-- [6 hours ago]
Sri Lankan state doctors to protest police attack on medical students protesting private medical college
-- [6 hours ago]
Sri Lanka Opposition Leader calls on government to investigate past killings of journalists
-- [6 hours ago]
SLFP leadership considering disciplinary action against members attended the Joint Opposition rally
-- [7 hours ago]
Sri Lanka's LG elections after delimitation process is complete - Minister
President hands over the 5th consignment of Navy's Thalassemia Infusion Systems
Court orders on Immigration officials and police to show cause on escape of kidney racket suspect
Full list of VAT exempted goods and services
Czech support to uplift Sri Lanka's transport and civil aviation sectors
VAT changes effective from today, exempt water, electricity, health and education

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.