The Central Bank of Sri Lanka, on behalf of the government, said this week it was planning to issue an International Sovereign Bond amounting to $1 billion by next month.
For this purpose, the bank said it has invited leading internationalbanks/investment houses to submit their proposals to act as Lead Manager(s)/Bookrunner(s).
“This International Sovereign Bond issue would be within the annual borrowing limit approved by the Parliament for 2010,” it said. Proceeds from this Sovereign Bond issue would be utilized for infrastructure development activities carried out by the government and to restructure the existing government debt portfolio by retiring high cost domestic debt and short term foreign currency denominated debt. |
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