Demand doubles for $ 50 m Bond issue; Govt. raises $ 81.25 m

Wednesday, 29 April 2015 02:22 - - {{hitsCtrl.values.hits}}

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.

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