Thursday Nov 21, 2024
Thursday Nov 21, 2024
Tuesday, 27 July 2021 03:04 - - {{hitsCtrl.values.hits}}
The Government has floated a fresh $ 110 million (maximum) Sri Lanka Development Bonds (SLDB) issue.
The initial issue is for $ 30 million worth SLDBs and possible upsizing by another $ 80 million. The tenors are nine months, one year eight months, two years and nine months, and five years.
They offer fixed rate determined through competitive bidding.
The issue opens today with 30 July as the date of settlement.
The previous SLDB issue was in June aimed at raising $ 100 million. However, it drew bids amounting to 35% of the issue.
The highest bids worth $ 29.20 million were for the 10 months fixed rate of 7.40% of which CBSL accepted $ 28.58 million.
The two-year-10-month SLDB offer saw $ 4.37 million worth of bids and CBSL accepting it in full at a fixed rate of 7.99%. The one-year-10-month and three-year-seven-month SLDBs drew bids worth $ 1.70 million (entirety accepted at 7.65%) and $ 0.26 million, respectively, of which $ 0.15 million was accepted at 7.68%.
Prior to that, the mega SLDB issue worth $ 750 million was in April, and it, too, went undersubscribed by 12%. Of the bids received, CBSL accepted those worth $ 652.6 million, and the balance was raised through direct issuance.
