The issue of Sri Lanka Development Bonds (SLDBs) for US$ 150 million has been oversubscribed by 1.5 times with total bid received amounting to US$ 229.02 million, announced the Central Bank.
The offer was opened from 18 – 25 June 2012 for bidding with the settlement on 02 July2012. Both foreign and local commercial banks subscribed bids at the auction.
In view of the high demand by the investors, the Government decided to accept US Dollars 229.02 million in 3 year maturity at the market determined rates of US Dollar 6 month.
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 Bank said.
The SLDBs are transferable by endorsement, delivery and registration with the Superintendent of Public Debt of the Central Bank of Sri Lanka.
Eligible investors may purchase SLDBs in the secondary market through Designated Agents appointed by the Central Bank of Sri Lanka.