Central Bank has raised $ 100 million via latest issuance of Sri Lanka Development Bonds (SLDBs).

The issue of $ 100 million comprising multiple tenor of 1 year 1 month, 1 year and 8 months, 2 years and 9 months and 4 years and 6 months was oversubscribed unlike previous SLDB issuance. 

It drew bids worth $ 138.34 million but CBSL accepted bids to the value of the issue which was $ 100 million. 

The issue included a floating rate arrangement –six-month LIBOR or its successor for dollars plus margin through competitive bidding for 1 year and 1 month and 1 year 8 months maturities and fixed rate arrangement – fixed rate determined through competitive bidding for all maturities. 

The 1 year 1 month tenor fixed rate drew highest bids worth $ 105.33 million of which CBSL accepted $ 73.33 million at a Weighted Average Fixed Rate of 6.57%. 1 year 8 months fixed rate drew $ 20 million worth of bids of which $ 19 million was accepted by CBSL at 6.62%. 

The 2 year 9 month option fixed rate drew $ 11.46 million worth of bids and CBSL accepted $ 6.12 million at 6.69%. Other bids accepted included $ 1 million on 1 year 1 month floating at 6.09% and $ 0.55 million 4 year 6 months fixed at 6.80% 

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