Govt. to launch US$ 500 mn Samurai bond in October

26 August 2019 12:01 am - 0     - {{hitsCtrl.values.hits}}

A A A

  • Cabinet paper on bond issue to be taken up tomorrow 
  • Samurai bond issue to be followed by Panda bond next year

 

The Central Bank is to seek clearance of the Cabinet of Ministers tomorrow to appoint lead managers to launch the US $500 million worth yen-denominated Samurai bond in Japan in October, which would be followed by renminbi-denominated Panda bond issuance in China next year.


Central Bank Governor Dr. Indrajit Coomaraswamy revealed a Cabinet paper would be taken up tomorrow to seek clearance to set-up a steering committee and to pursue other administrative measures to appoint lead managers through a Request for Proposal (RFP).


“We were informed that October would be a good time for the Japanese market because their first half financial year finishes in September. The process may take 2-3 months,” he said.

He also revealed that Japan Bank for International Co-operation (JBIC) has offered a 95 percent credit guarantee for the bond issue. 


Further, he said that several dozens of Japanese institutions have expressed support for the proposed bond issue with JBIC guarantee.


Following the Smaurai bond issuance, the Governor said the Central Bank would work on a Panda bond issue as the Central Bank is determined to further diversify Sri Lanka’s investor base.  However, he noted that the Panda bond is likely to take place after the election cycle ends. 


The Central Bank targets to end this year with US$ 8.2 billion in gross foreign reserves.

 

 

  Comments - 0


Add comment

Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.

Reply To:

Name - Reply Comment




Murder most foul

Sixty-one years ago on September 25, 1959 Solomon West Ridgeway Dias Bandaran

What went wrong in Kandy?

Tragedy struck when a five-storey building caved in and collapsed, killing a

The 20th Amendment Bill Lest We Forget

Strident calls were repeatedly made from many quarters for the 19th Amendment

Public transport 'side-laned'?

“Miss, mantheeru neethiya nisa api bus passen yanna one. Ithin drop eka par