Sri Lanka has raised US$ 152 billion by issuing three year tenor ‘Sri Lanka Development Bonds’, at the market determined rate of US$ 6 month LIBOR + 400 basis points.
The offer, which was opened on the 8th of February, initially only aimed at raising US$ 60 million.
However, the issue has been oversubscribed by 2.5 times, thus resulting in the Debt office accepting all bids.
“In view of the high demand by the investors, the Government decided to accept US Dollars 152.12 million”, announced the Public Debt department in a release issued.
Foreign and Local banks have subscribed for the Developments Bonds, which the settlement will take place on the 22nd of February.
Yesterday, the US Dollar 6 month LIBOR rate is 0.4649 per cent.