Demand doubles for $ 50 m Bond issue; Govt. raises $ 81.25 m
Wednesday, 29 April 2015 02:22
Floating rate option and three-year tenure pursued
The Government’s latest Sri Lanka Development Bond (SLDB) issue of $ 50 million was oversubscribed by two times and bids worth Rs. 81.25 m accepted at a floating rate.
The SLDBs offered were two- and three-year tenures with $ 25 million each on a fixed or floating (six-month LIBOR plus margin determined through competitive bids).
The two-year tenure drew $ 45 million worth of bids with a weighted average of 360 basis points and the three year tenure received $ 63.25 million in bids at weighted average basis points of 377.20.
The Government accepted Rs. 30 million from a two-year tenure and Rs. 51.25 from three-year tenure bids.“All accepted bids were of floating rate,” the Central Bank said.