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Saturday Dec 28, 2024
Friday, 16 October 2015 00:02 - - {{hitsCtrl.values.hits}}
The issue of Sri Lanka Development Bonds (SLDBs) for $ 75 million has been oversubscribed, with total bids received amounting to $ 400.25 million, the Central Bank said on Thursday.
In response to good demand and attractive pricing, the Central Bank accepted bids worth $ 330 million a weighted average margin (bps) over six-month LIBOR range of 335.95 and 405.00.
The Central Bank on behalf of the Government offered to issue of $ 75 million in one year, three years three months and four years and eight months tenor to eligible foreign and local investors for subscription at a rate of $ 6 month LIBOR plus a margin to be determined through competitive bidding.
The issue was open for subscription from 8-15 October.
The Central Bank has accepted $ 277.5 million in one year bonds after receiving bids worth $ 343.25 million at a floating rate of weighted average margin over six month LIBOR of 335.95 basis points.
The three years three months bonds received bids amounting to $ 7 million and accepted $ 2.5 million at a floating rate of 370.00 basis points.
The four years and eight months bonds received bids amounting to $ 57 million and accepted $ 50 million at a floating rate of 450.00 basis points.
The bonds have a settlement date of 19 October 2015.
