Sri Lanka’s Central Bank to sell USD75mn worth development bonds

Feb 12, 2016 (LBO) – The Central Bank will issue 75 million US dollars of development bonds with a tenor of 1 Year 1 month, 2 Years 2 months and 4 Years 4 months to local and foreign investors.

The Debt Department said the subscription will be at a floating rate of 6 month LIBOR for USD plus a margin through competitive bidding or at a fixed rate to be determined through competitive bidding.

Minimum investment is 100,000 US dollars with additional investments in multiples of 10,000 US dollars.

The issue will be open for subscription from 15 to 19 February and has a date of settlement of 26 February 2016.
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Development bonds are to be issued by the Public Debt Department of Central Bank and exempted from income tax paid in Sri Lanka.