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* Sri Lanka Development Bonds issue for US$ 830 mn receives nearly US$ 1.4 bn bids
Tue, Mar 14, 2017, 09:04 pm SL Time, ColomboPage News Desk, Sri Lanka.

Mar 14, Colombo: The issue of Sri Lanka Development Bonds (SLDBs) for US$ 830 million has been oversubscribed with total bids received amounting to US$ nearly 1.4 billion, the Central Bank said on Tuesday.

The Central Bank on behalf of the government offered to issue of US$ 830 million 1 year, 2 years and 3 years, and 5 years tenor to eligible investors for subscription at a rate of either US Dollar 6 month LIBOR plus a margin (floating rate) or at a fixed rate to be determined through competitive bidding.

The issue was open for subscription from 8th to 14th March, 2017.

The Central Bank has accepted US$ 81 million in 1-year bonds after receiving bids worth US$ 91 million at a fixed rate of weighted average margin over six month LIBOR of 426.54 basis points and US$ 177 million after receiving bids for US$ 521.79 million at a floating rate of weighted average margin over six month LIBOR of 254.97 basis points.

The 2 years bonds received bids amounting to US$ 7 million and accepted all at a floating rate of weighted average margin over six month LIBOR of 440 basis points and US$ 341.25 million after receiving bids for US$ 387.25 million at a floating rate of weighted average margin over six month LIBOR of 319.15 basis points.

The 3years bonds received bids amounting to US$ 4 million and accepted all at a floating rate of weighted average margin over six month LIBOR of 480 basis points and US$ 74.27 million after receiving bids for US$ 79.45 million at a floating rate of weighted average margin over six month LIBOR of 373 basis points.

The Bank received bids amounting to US$ 307.06 million and accepted US$ 288.73 million of bids in 5 Years bonds at a floating rate of 396.04 basis points.

The bonds have a settlement date of March 17, 2017.

 


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