Sri Lanka sells US$ 229mn in 3-year development bonds

26 June 2012 04:28 am - 0     - {{hitsCtrl.values.hits}}

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REUTERS- Sri Lanka sold US$ 229.02 million in dollar-denominated three-year development bonds, the Central Bank said yesterday, to retire maturing similar securities used for development financing.

The government offered $150 million worth of bonds, an offer that was oversubscribed 1.5 times with total bids received amounting to $229.02 million, the Central Bank said in a statement.

“In view of the high demand by the investors, the government decided to accept $229.02 million ... (at) rates of US dollar six-month LIBOR +410 basis points,” the bank said.

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