Sri Lanka sells US $ 301mn of development bonds

Sri Lanka raised US $ 301 million from the sale of dollar-denominated development bonds yesterday, the Central Bank said.

The government accepted US $ 291 million in 13-month bonds at six-month LIBOR plus a floating rate of 330.97 basis points (bps) after receiving bids worth US $ 293 million, the Central Bank said in a statement.

It also accepted US $ 10 million out of US $ 12 million total bids in 33-month bonds at six-month LIBOR plus a floating rate of 360 bps.
The government had offered US $ 75 million for the issue in both tenures.