Govt. to issue $ 75 m development bonds

The Central Bank has announced that it plans to sell $ 75 million worth of development bonds to foreign and local investors.

The Public Debt Department of Central Bank will issue $ 75 million in Sri Lanka development bonds of one year, three years three months and four years eight months tenor to eligible investors for subscription at a rate of either US Dollar six month LIBOR plus a margin (floating rate) or at a fixed rate to be determined through competitive bidding.

Minimum investment is $ 100,000 with additional investments in multiples of $ 10,000. The bonds are exempted from income tax paid in Sri Lanka.The issue will be open for subscription from 8 to 15 October and has a Date of Settlement of 19 October 2015.