The Central Bank (CB) will be auctioning development bonds worth US $ 75 million this month.
The dollar-denominated bonds will have maturity periods ranging from one year, three years and three months, to four years and eight months. The minimum investment is US $ 100,000 in multiples of US $ 10,000. Interest would be paid semi-annually, based on either six months LIBOR with a margin determined through competitive bidding, or a fixed rate determined through competitive bidding and will not be liable to taxation in Sri Lanka.
Foreign citizens and entities, non-resident Sri Lankans, Sri Lankan dual citizens, foreign exchange dealers, primary dealers, specific Board of Investment companies and specific insurance companies may subscribe to the bonds.
The bids for the issue may be submitted between October 8-15 and the date of settlement will be October 19.