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NSB to sell minimum of US $500mn 5-yr bond

26 August 2013 05:46 am - 0     - {{hitsCtrl.values.hits}}

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Sri Lanka's state-run National Savings Bank (NSB) plans to raise a minimum $500 million through the sale of a likely five-year bond with a target yield around 7 percent, sources close to the deal told Reuters on Monday

The final decision on size of the bond and tenure will depend on market appetite, the sources said.

The bank, which had originally targeted US $1 billion, 10-year bond, has appointed Citibank, Barclays, and HSBC as the lead managers for the lender's first global corporate bond and will start roadshows on Monday in New York followed by Boston, Los Angeles, London, Hong Kong, and Singapore.

"It will be a minimum of US $500 million with minimum five-year tenure, but depending on the market appetite, the size and tenure will be decided," one source said on condition of anonymity.

"Currently the markets are highly volatile. Our current bonds in the secondary market are trading around 7 percent. That gives some kind of a signal on the yield."

A second source confirmed the NSB's bond sales plans and details. (REUTERS)
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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.

 


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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.

 


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