The Sri Lankan Government has already made pre-funding arrangements for meeting the maturing International Sovereign Bond (ISB) obligations in 2019 through proceeds of divestment of non-strategic assets and funding through syndicate arrangements, the Central Bank announced on Wednesday.
While exploring an ideal window to further access international capital markets, the Government and Central Bank have already initiated necessary actions to further diversify international market based foreign funding sources to jurisdictions outside conventional Eurodollar ISB issuances.
The Government of Sri Lanka has been issuing ISBs since 2007. It has maintained an unblemished record on servicing of its debt obligations timely, including ISBs, since independence. ISBs issued in January and April 2014 in US$1,000 million and 500 million, respectively, are due to mature in January and April 2019. (BS)
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