Govt. floats $50m dollar bonds for local banks, first since 2022

News

For the first time since Sri Lanka declared bankruptcy in 2022, the government has issued a USD 50 million worth Domestic Dollar Bond (DDB) to raise dollars from local commercial banks alone.

With the maturity period ranging from one to three years, the interest rate of the bond will be determined through competitive bidding. Only locally incorporated licensed commercial banks are eligible to subscribe from December 3 to 10.

The USD-denominated interest rates for the short-term liquidity tool will be paid every six months or annually by the Treasury, subject to local tax regulations.

Read more in today's Sunday Times edition here

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