$ 75 SLDB issue goes undersubscribed by over 60%

Monday, 16 November 2020 00:24 - - {{hitsCtrl.values.hits}}

The Government's latest issue of Sri Lanka Development Bonds (SLDBs) worth $ 75 million concluded undersubscribed by over 60% last week.

The issue had multiple tenor and offered fixed rate arrangement.

Bids received amounted to only $ 25.02 million, reflecting an under-subscription of 66.64%. The Central Bank accepted bids worth $ 24.82 million only.

Full bids worth $ 12.15 million for the one year and five months tenor at a Weighted Average Fixed Rate of 6.81% were accepted whilst $ 7.17 million of the $ 7.37 million bids received for one year and two months tenor were accepted with a fixed rate of 6.69%.

Bids worth $ 5.21 million received for two years and five months tenor at 6.71% as well as $ 0.29 million bids received for four years and two months tenor at 6.82% were accepted in full.

The previous SLDB issue in July amounting to $ 100 million drew bids worth $ 133.84 million. It had multiple tenor and offered both floating and fixed rate arrangements.