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Sri Lanka Development Bonds issue for $125m oversubscribed nearly 3 times

Staff Writer | March 23, 2018
The issue of Sri Lanka Development Bonds (SLDBs) for $125 million has been oversubscribed with total bids received amounting to $343 million, the Central Bank said.
Sri Lanka
Asia   1 Year 6 Months, 3 Years 3 Months, and 5 Years tenor
The Central Bank on behalf of the government offered to issue of $125 million of 1 Year 6 Months, 3 Years 3 Months, and 5 Years tenor to eligible investors for subscription at a rate of either US Dollar 6 month LIBOR plus a margin (floating rate) or at a fixed rate to be determined through competitive bidding.

The issue was open for subscription from 19 - 23 March 2018. The Central Bank has not accepted any of $157.8 million of bids received for the 1 Year 6 Months bond.

The bank has also received $60.9 million of bids for the 3 Years 3 Months bond and the bank has accepted $20.47 million at a floating rate of six month LIBOR plus 344.07 basis points.

The Five-year bond received bids of $124.83 million and the bank has accepted $104.53 million at a floating rate of six month LIBOR plus 402.08 basis points. The bonds have a settlement date of 28 March 2018.


 

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