The Central Bank of Sri Lanka (CB), on behalf of the Government of Sri Lanka (Sri Lanka), has successfully raised US$1,500 million 10-year International Sovereign Bonds (Bond) with a coupon of 6.850 per cent per annum at par on October 27, 2015. This marks Sri Lanka’s ninth US Dollar benchmark as well as the largest [...]

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The Sunday Times Sri Lanka

Sri Lanka raises US$ 1,500 mln from international sovereign bond issue

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The Central Bank of Sri Lanka (CB), on behalf of the Government of Sri Lanka (Sri Lanka), has successfully raised US$1,500 million 10-year International Sovereign Bonds (Bond) with a coupon of 6.850 per cent per annum at par on October 27, 2015.

This marks Sri Lanka’s ninth US Dollar benchmark as well as the largest offering in the international bond market since 2007, the CB said on Thursday.

The bonds have been rated ‘BB-’, ‘B1’ and ‘B+’ by Fitch Ratings, Moody’s Investors Service and Standard and Poor’s respectively. Citigroup, Deutsche Bank, HSBC and Standard Chartered Bank were Joint Lead Managers and Bookrunners of this successful transaction.

Final order books stood at US$3.3 billion from 290 investor accounts, achieving an oversubscription ratio of 2.2 times.
“The outcome of this bond issuance shows the continued investor confidence in Sri Lanka, despite the volatility in the international bond market,” the CB said.

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