Sri Lanka bond yields up over 100 bps as govt debt office borrows more


ECONOMYNEXT – Sri Lanka’s bond yields rose over 100 basis points across maturities at this week’s auction, data from the state debt office showed, as the government borrowed 142.3 billion rupees via treasury bonds.

The debt office offered 60 billion rupees of bonds maturing on 01 June 2025, a 30 billion rupees of bond maturing on 15 January 2028 and a 60 billion rupees of bonds maturing on 15 May 2031.

The debt office raised 52.3 billion rupees from 2025 bonds at an average yield of 23.7 percent after 75.6 billion rupees in bids received.

A 30 billion rupees was raised through 2028 bonds at an average yield of 21.18 percent with 60.6 billion rupees in bids received and was fully subscribed.

Another 60 billion rupees was raised via 2031 bonds at an average yield of 20.74 percent with 147.1 billion rupees in bids received. The debt office offered 150 billion rupees of bonds.

A ‘guidance rate’ at which interbank transactions are pegged was announced by the central bank closed 359.90 on Tuesday, edging up 40 cents from the previous day’s 360.30.

Commercial banks offer for US dollars for telegraphic transfer closed at around 368 to 370 dollars for small transactions steady from the previous day’s rates.

“In the secondary bond market, the overall marker was dull,” a dealer said.

“The market has no time to recover with the bond auction today and the bill auction tomorrow.”

A bond maturing on 01.06.2025 closed at 23.70/80 per cent, up from 21.00/15 at Monday (27) close.

A bond maturing on 15.01.2028 closed at 21.00/60 per cent, up from 20.30/21.00 at Monday (27) close.  (Colombo/June 28/2022)

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