Another SLDB issue goes undersubscribed

Another issuance of Sri Lanka Development Bonds (SLDBs) went undersubscribed in succession. 

The latest issue of SLDBs worth $ 62 million drew bids worth only $ 18 million, all of which were accepted.  

The previous issue worth $ 220 million in late March saw bids worth only $ 22 million. The Central Bank accepted bids worth only $ 12 million.

The latest issue had tenors of 6 months, 1 year and 3 months, 3 years and 4 years and nine months and offered floating rate arrangement and fixed rate arrangements.

The 1 year 3 months tenor received most bids worth $ 15 million with a Weighted Average Fixed Rate of 6.83.  There were no bids for floating rate options.