June 25, Colombo: The issue of Sri Lanka Development Bonds (SLDBs) for US$ 100 million has been oversubscribed with total bids received amounting to US$ 145 million, the Central Bank said on Thursday.

The Central Bank on behalf of the government offered to issue of US$ 100 million of 7 Months, 1 Year 2 Months, 1 Year 9 Months and 4 Years 7 Months 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 June 19-25, 2020.

The Central Bank has received US$ 63.13 million of bids for the seven months bond and the bank has accepted US$ 50 million at a fixed rate of 5.70%. The Bank has not accepted US$ 1 million received at a floating rate.

The Bank has also received US$ 45.48 million of bids for the 1 Year 2 Months bond and the bank has accepted US$ 32.72 million at a fixed rate of 6.67%.

The 1 year 9 months bonds received bids of US$ 16.61 million and the bank has accepted US$ 8.4 million at a fixed rate of 6.74%..

The Central Bank has received US$ 18.88 million of bids for the four years seven months bond and the bank has accepted US$ 8.88 million at a fixed rate of 6.87%.

The bonds have a settlement date of June 29, 2020.