Govt. raises $ 100 m via five-year Development Bonds
The Government yesterday accepted $ 100 million from the $ 143 million bids received for the $ 75 million Sri Lanka Development Bonds (SLDBs) issue.
The Central Bank, on behalf of the Government, offered to issue SLDBs of $ 75 million in a five-year tenure to eligible investors for subscription at a rate of US dollar six month LIBOR + 405 bps weighted average margin, the bank said in a statement.
The offer was opened from 23 – 27 March 2015 for bidding with the settlement on 1 April 2015.
The last SLDB issue on 9 March was for $ 50 million on a 3-year tenor and was oversubscribed by 3.5 times with the total bid received amounting to $ 172.5 million. Following the bid the Central Bank accepted $ 156.5 million in three-year maturity at the market determined rates of US Dollar six-month LIBOR + 377 bps weighted average margin.
