$ 100mn SLDB sale undersubscribed

Issuance window remains open today

The latest $ 100 million Sri Lanka Development Bonds (SLDBs) issue has drawn only a demand of 35.5%, marking yet another under subscription. When the five-day window for bids closed on Friday, the issue had received bids worth only $ 35.53 million. Of the bids received, CBSL accepted $ 34.8 million. It was said an issuance window for SLDBs would be opened with the announcement of auction results until the close of business of day prior to settlement i.e., until 4.15 p.m. today.This will be at the Weighted Average Fixed Rates determined for respective maturities at the auction, up to the balance of the amount offered and possible space for upsizing, on a first-come-first-served basis.  The highest bids worth $ 29.20 million were for the 10 months fixed rate of 7.40 of which CBSL accepted $ 28.58 million. The 2 years 10 months SLDB offer saw $ 4.37 million worth of bids and CBSL accepting it in full at a fixed rate of 7.99. The 1 year 10 months and 3 years 7 months SLDBs drew bids worth $ 1.70 (entirety accepted at 7.65%) and $ 0.26 million, respectively, of which $ 0.15 bids were accepted at 7.68%.