Mar 26, 2010 (LBO) - Sri Lanka has raised 100 million US dollars by selling two- and three-year dollar denominated bonds at the same rates as last week's sale, the government's debt office said.The offer of Sri Lanka Development Bonds (SLDBs) of 50 million dollars with 2-year maturity and 50 million dollars with 3-year maturity opened on March 12, 2010 and closed on March 26, 2010.
The debt office, which is a unit of the central bank, said both foreign and local commercial banks invested 100 million dollars and the settlement for the issue took place on March 26, 2010.
Of this total, 92 million dollars was raised through the auction held on March 18, 2010 and the balance eight million dollars mobilized via placements, it said in a statement.
It sold 45 million dollars worth of 2-year bonds at a weighted average rate of 6-month London interbank offered rate (LIBOR) plus 380 basis points.
The 6-month LIBOR, the rate at which banks lend to each other, was 0.43 percent this week.
The debt office said they sold another 55 million US dollars of 3-year bonds at 6-month LIBOR plus 395 basis points.
"The successful conclusion of this first SLDBs issue in 2010 is considered a very positive start which clearly reflects investors’ confidence and their preference to invest funds in foreign currency denominated bonds issued by the government of Sri Lanka," it said.
Bank dealers said it was the first roll-over this year of bonds of a previous issue.
source - www.lbo.lk
No comments:
Post a Comment