Even before Sri Lanka decided to float the US$ 1 billion sovereign bond issue, which was 6.3 times oversubscribed and closed within 14 hours of the issues opening, on Monday (27), officials said foreign investors were keen on investing in government paper.
Central Bank Deputy Governor K. G. D. D. Dheerasinghe told The Island Financial Review that top officials had been on road shows to Singapore, Hong Kong, London and the US before deciding to float the bond issue.
"Investors were happy with our briefing them about Sri Lanka’s economy and they were making inquiries as to whether we would be issuing a debt instrument any time soon," he said. Dheerasinghe said these road shows were not specifically promoting the bond issue.
Central Bank Public Debt Department Superintendent C. J. P. Siriwardena said officials had met with investors in Singapore, Hong Kong, London, Boston, New York, Los Angeles and San Francisco with regards the bond issue. "They were happy and convinced about Sri Lanka," he said.
source - www.island.lk
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