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

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

A A A

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)

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.

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

Comments - 0

Add comment

RECOMMENDED

Wokeism: The Transgender and Drag Queen Conversation

How Lanka’s National anthem was amended due to superstition

Import of South Indian eggs: Sri Lanka walks on Indian eggshells

Wokeism: Is it destructive, or are you afraid of change? A response

Defeat in Ananthapuram Battle denoted the LTTE’s end

Wokeism: A Weapon of Mass Destruction?

Fake news fraud using Prabha and family

Most Viewed in News

Brothel allegedly run by popular actress raided in Kandy

SL Rupee appreciates against USD

IMF approves funding for Sri Lanka

SL Rupee continues to depreciate against USD

Sri Lanka becomes first in Asia to have its governance come under IMF scrutiny

SL Rupee depreciates against USD

TODAY'S HEADLINES

Govt. to reduce inflation rate to a single digit by mid-2023: RW

Hands chopped off and taken away

8-hour Water Board protest today: Union

We can’t continue second round of negotiations, If IMF report not approved by Parliament: RW

MIRROR CRICKET

New Zealand demolish Sri Lanka to sweep Test series

Williamson, Nicholls double tons put New Zealand on top in second Test

Royal College well-placed for win, S. Thomas’ 43 for 3

Royal declare second innings, give Thomians a 342-run target

Vishwa, Thenuka guide Kalutara PCC to victory

Only medal prospects for Asian Games, Arjuna says

Nippon Karting Slalom Championship 2023 organised by CMSC on March 26

New Zealand demolish Sri Lanka to sweep Test series