Foreign and commercial banks made offers totalling US$134.5 million in an auction for Sri Lanka Development Bonds (SLDB) offered by the Government through the Central Bank (CB) of Sri Lanka.
The CB said it had offered SLDBs worth $100 million for subscription at a rate of $6 month LIBOR plus a margin to be determined through competitive bidding. After the offer which opened between June 13 and 21 was oversubscribed, the Government decided to accept $103.5 million in 3 year maturity bills and $23 million in 4 year maturity bills.
The funds mobilized through the new SLDB issue will be used to settle maturing SLDBs of $125.8 million. |
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