The Government has launched a US$ 500 million International Sovereign Bond issue at a yield of 5.125 percent per year, the Central Bank said.
The issue represents the balance of the US$ 1,500 million International Sovereign Bond programme approved for 2014.
The Issue was the seventh benchmark offering by Sri Lanka since 2007. Citigroup, The Hongkong and Shanghai Banking Corporation Limited and Standard Chartered Bank acted as Joint Lead Managers/Bookrunners on the transaction.
Fitch Ratings, Moody's Investors Service and Standard and Poor’s have rated the Issue at 'BB-', ‘B1’ and ‘B+' respectively.
This tighter yield reflects the continued confidence that the international investors have placed in the sovereign bond issuance of Sri Lanka. The final order book stood at US$ 4.25 billion, an oversubscription ratio of 8.3 times, from 287 accounts, achieved within a six-hour bookbuild period.