Sri Lanka to raise US$100mn from the sale of SL Development Bonds

If oversubscribed, further US$80 million will be considered

Sri Lanka has offered 100 million US dollars of dollar- denominated securities at an auction due to close on June 30, the Public Debt Department said.

In the event of oversubscription, further US dollars 80 million will be considered, the Department said. The details of the offer are as follows.

Currency: US dollar

Size and tenor: US dollars 100 million of 10 months, 1 year 10 months, 2 years 10 months, and 3 years 7 months Interest rate: Fixed rate arrangement Interest payments: Semi – annual Minimum investment : US dollars 10, 000 and in multiples of US dollars 10, 000 Transferability: By endorsement, delivery and registration Eligible Investors: Foreign citizens and entities, non resident Sri Lankans, Sri Lankan dual citizens, holders of personal foreign currency accounts and business foreign currency accounts, licensed specialized banks and licensed finance companies who have been permitted to accept deposits in foreign currency, authorized dealers in foreign exchange, primary dealers in government securities, specified companies that have entered into agreements with the Board of Investment of Sri Lanka and specified insurance companies licensed under the Regulation of Insurance Industry Act. -www.cbsl.gov.lk