ECONOMYNEXT: Sri Lanka will raise at least US $ 450 million from a syndicated loan for which the government has selected six banks, a media report said.
Bloomberg Newswires said Bank of Baroda, Deutsche Bank, Indian Bank, Qatar National Bank, SBI and SMBC would arrange the loan.
Last year Sri Lanka raised US $ 700 million from a syndicated loan. Sri Lanka has a ‘B+’ speculative rating. Fitch has just upgraded the outlook to ‘stable’ from ‘negative’. Sri Lanka wanted to raise about a billion US dollars from the syndicated loan.
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