The Central Bank is considering an issuance of an International Sovereign Bond of up to US Dollar 1,000 million in the international market.

The issuance will be timed subject to market conditions probably later this year, stated the Central Bank.

After evaluation of the proposals received from seven investment international banks, the Government has selected three leading international investment banks, namely the Hong Kong and Shanghai Banking Corporation Limited (HSBC), Bank of America Merrill Lynch and the Royal Bank of Scotland (RBS) as Joint Lead Managers and Bookrunners for the proposed issuance.

In addition, Bank of Ceylon has been appointed as a Co-manager to work with the three Joint Lead Managers to execute the proposed bond issuance.