Sri Lanka sells USD973mn in dollar denominated bonds

Mar 15, 2017 (LBO) - Sri Lanka's government has sold 973.25 million dollars worth of bonds in one-, two-, three- and five-year periods with the majority earmarked at floating rates after calling bids for 830 million dollars of securities yesterday.

The Central Bank sold 177 million dollars of one-year Sri Lanka Development Bonds paying 254.97 basis points above the six-month London Interbank Offered Rate (LIBOR), the debt office of the CB said in a statement. The Central Bank sold 341 million dollars of two-year bonds priced 319.15 basis points above six-month Libor, 74.27 million dollars of three-year bonds priced 373 basis points above LIBOR and 288.73 million dollars of bonds priced at 396.

04 basis points above LIBOR. It also sold 81 million dollars of one-year bonds, paying an average fixed rate of 426.54 basis points, 7 million dollars of two-year bonds paying 440 basis points and 4 million dollars of three-year bonds paying 480 basis points, the statement added. The date of settlement is March 17, 2017.