June 30, Colombo: The issue of Sri Lanka Development Bonds (SLDBs) for US$ 100 million was undersubscribed Tuesday with only bids received amounting to US$ 36.7 million, the Central Bank data showed.

The Central Bank on behalf of the government offered to issue of US$ 100 million of 7 Months, 1 Year 10 Months, 2 Year 10 Months, and 3 Years 7 Months tenor to eligible investors for subscription at fixed rate determined through competitive bidding for all maturities.

The issue was open from 21 June and closed on 25 June with a settlement date of 30 June.

The highest bid received was US$ 30.19 million of bids for the 10 months maturity and the Central Bank has accepted US$ 29.57 million at a Weighted Average Fixed Rate of 7.40%.

The 1 year 10 months bonds received US$ 1.80 million worth bids and the bank accepted the entirety of bids with a Fixed Rate of 7.65%.

The 2 year 10 months bonds received US$ 4.72 million worth bids and the bank accepted the entirety of bids with a Fixed Rate of 7.99% and the 3 Years 7 Months bonds received US$ 0.26 million of which the Bank accepted US$ 0.15 million with a fixed rate of 7.68%.

The government was able to raise only US$ 36.24 million from the auction.