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Wednesday, 26 June 2019 01:55 - - {{hitsCtrl.values.hits}}
Citi on 24 June partnered with the Central Bank of Sri Lanka on behalf of the Sri Lankan Government to raise $ 2 billion in a dual-tranche five-year and long 10-year bond offerings. The Notes were priced at a yield of 6.35% and 7.55% for the five-year and 10-year long tranche, respectively. Both tranches were priced well inside the respective initial price guidance.
The bonds were rated ‘B2’, ‘B’ and ‘B’ by Moody’s Investors Service Standard and Poor’s and Fitch Ratings respectively. This marks the Republic’s 14th US dollar benchmark offering in the international bond markets since 2007. “We are honoured to support the country in this landmark transaction. The pricing achieved and the investor appetite underlines the continued investor confidence in Sri Lanka,” Citi Country Officer Sri Lanka Ravin Basnayake said.
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Citi Country Officer Sri Lanka Ravin Basnayake |
This landmark transaction represents the country’s second return to the US dollar bond markets during this year and Citi acted as Joint Lead Manager, Joint Bookrunner and Ratings advisor reflecting Citi’s global capabilities, dominant market position and global network presence.
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.
