Posted by Sri Lanka today announced a US$ 275 million bond issue, which it plans to raise dollars to settle maturing debts on the 31st of this month.
Accordingly the Central Bank says, US$ 175 million worth bonds will be issued on a 2 year period while US$ 100 million will be given on a 3 year tenor.
The auction date is coming Friday, announced CBSL.
Interest rates for the latest bonds will be decided on the 6 month LIBOR for US$ + margin.
The minimum investment would be US dollars 100,000 and in multiples of US$ 10,000.
Foreign Citizens and Entities, Non Residents, Sri Lankan dual citizens, Authorized Dealers, Primary Dealers and specified company’s with BOI agreements are among the eligible investors who can apply.
This is the second time the Government is raising dollars domestically during 2010.
In March this year Sri Lanka raised US$ 100 million via a Sri Lanka development bond issue.
The latest bond issue comes as a part of the approved sum of US$ 550 million to be raised via SLDB’s from the extended budget version of 2010 which runs from May to July.
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