Jan 05, Colombo: The Central Bank of Sri Lanka has announced that it plans to sell US$ 500 million worth of development bonds to foreign and local investors.
The Public Debt Department of Central Bank will issue US$ 500 million in Sri Lanka Development Bonds of 2 year, 3 year, 4 year and 5 year 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.
Minimum investment is US$ 10,000 with additional investments in multiples of US$ 10,000. The bonds are subjected to the applicable tax laws in Sri Lanka.
The issue will be open for subscription from 11.00 am on 11 January 2018 to 10.00 am on 18 January 2018.
The bonds can be purchased from selected Licensed Commercial Banks & Primary Dealers and will have a settlement date of 22 January 2017.