Sri Lanka’s Central Bank on Tuesday said its bond issue offer worth $185 million drew bids from both foreign and local commercial banks bid at the auction totaling $204.25 million.
Offers for the Sri Lanka Development Bonds (SLDBs), being issued on behalf of the government, were open March 1-8 for bidding with the settlement on March 16. Of the bids received, the bank decided to accept $99 million in 3 year SLDBs and $93 million in 4 year SLDBs at the market determined rate of US Dollar 6 month LIBOR + 375 bps (weighted average margin) and 6 month LIBOR + 385 bps (weighted average margin), respectively.
The bank said the funds mobilized through the new SLDB issuance are to be used to settle maturing SLDBs of $185 million. |
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