:.News Line :CB issues $126.5 mln Development Bonds

News Line

Wednesday, June 21, 2011 - 03.50 GMT
CB issues $126.5 mln Development Bonds


The Central Bank on behalf of the Government, offered to issue US Dollar 100 million Sri Lanka Development Bonds (SLDBs) to eligible investor categories. The offer was opened from 13 – 21 June 2011 for bidding with the settlement on 29 June 2011. Both foreign and local commercial banks bid at the auction with the total bids received amounting to US Dollars 134.5 million. Of the bids received, the Government decided to accept US Dollars 103.5 million in 3 year maturity and US Dollars 23 million in 4 year maturity at the market determined rates, stated the Central Bank. It also said the SLDB issue was executed in terms of Section 2 (a) and 2 (c) of the Foreign Loans Act No. 29 of 1957 as amended, and the funds mobilized through the new SLDB issuance are to be used to settle maturing SLDBs of US Dollars 125.8 million. Eligible investors may purchase SLDBs in the secondary market through Designated Agents appointed by the Central Bank of Sri Lanka.

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Last modified: June 22, 2011.