Tue, 22 Jun 2021 Today's Paper

Sri Lanka appoints lead managers for up to US$1.5bn sovereign bond

29 April 2017 12:05 am - 0     - {{hitsCtrl.values.hits}}

A A A

Sri Lanka has appointed seven lead managers for a sovereign bond worth up to US$1.5 billion and could tap the capital market as soon as next month, a source close to the deal said this week.
Finance Minister Ravi Karunanayake said the government was looking to issue a bond with a term of more than 15 years.
The banks are Citigroup, Deutsche Bank, HSBC, Standard Chartered Bank, Morgan Stanley and two Chinese institutions, the source, who has direct knowledge of the deal, 
told Reuters.
A government source who also has knowledge of the deal confirmed the seven banks.
Karunanayake also said inflows from the bond, another US$1 billion from two syndicated loans, and US$500 million from Sri Lanka Development Bonds would be used to boost foreign reserves.
“We expect see a double-digit (billion dollar) reserves this year with the flows from asset leasing and some divestment from state assets,” Karunanayake told reporters. Sri Lanka’s foreign exchange reserves were at US$5.6 billion by end-March compared to US$6 billion at the end of last year.
Sri Lanka missed the reserves target set under the terms of a US$1.5 billion International Monetary Fund loan. The IMF last month urged Sri Lanka’s Central Bank to rebuild foreign reserves while maintaining exchange rate flexibility.

- REUTERS

 

See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

  Comments - 0

See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

 

 

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


GSP+: Isn’t there a way out?

The European Parliament’s resolution on Sri Lanka on June 10 was the second

Is Litro Gas above the regulator?

After an in-house battle among members of the top management of the Consumer

Statistical blunders expose administrative weaknesses

Information helps save lives and during a pandemic a free-flow of vital, accu

Vavuniya tusker’s demise DID TOO MANY ‘COOKS’ SPOIL JUMBO’S RECOVERY?

On June 11 Sri Lanka lost another one of its magnificent tuskers that succumb



See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.