CB invites proposals from banks for upcoming US $ 1.5bn bond issue

The Central Bank called on banks and investment houses to submit proposals for the appointment of lead managers/book runners for the US$ 1.5 billion international sovereign bond issue that will take place this year. Institutions that have acted as lead managers/book runners for emerging market bond issuances in aggregate amounting to at least US$ 20 billion are eligible. 
One or more lead managers/book runners could be selected, and the government reserves the right to reject any or all proposals without any reason, and to enter into negotiations with banks and investment houses to attract the best terms in the interest of the government of Sri Lanka.
The government will also be going for a US$ 1 billion syndicated loan, this year, which has also received cabinet approval.
The government had raised US$ 1.5 billion through a dual tranche international sovereign bond and US$ 700 million through a syndicated loan in 2016.