The issue of Sri Lanka Development Bonds (SLDBs) for US$ 45 million has been oversubscribed by 2.2 times with total bid received amounting to US$ 100 million, announced the Central Bank.

The total bids received have amounted to $100 million and the government had accepted $72 million in 3 year maturity and US Dollars 12 million in 4 year maturity.

The offer was opened from 12 – 19 March with the settlement on August 26.

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.

The SLDBs are transferable by endorsement, delivery and registration with the Superintendent of Public Debt of the Central Bank of Sri Lanka, the Bank said.

Eligible investors may purchase SLDBs in the secondary market through Designated Agents appointed by the Central Bank of Sri Lanka.