Only 35% demand for latest $ 100 m SLDB offer

Monday, 28 June 2021 00:25 - - {{hitsCtrl.values.hits}}

CBSL keeps issuance window open till tomorrow evening

The latest $ 100 million Sri Lanka Development Bonds (SLDBs) issue has elicited only a demand of 35.5%, marking yet another under subscription.

When the five-day window for bids closed on Friday, the issue had gotten bids worth only $ 35.53 million. Of the bids received, CBSL accepted $ 34.8 million.

It said an issuance window for SLDBs will be opened with the announcement of auction results until the close of business of day prior to settlement i.e., until 4.15 p.m. tomorrow.

This will be at the Weighted Average Fixed Rates determined for respective maturities at the auction, up to the balance of the amount offered and possible space for upsizing, on a first-come-first-served basis. 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 2 years 10 months SLDB offer saw $ 4.37 million worth of bids and CBSL accepting it in full at a fixed rate of 7.99. The 1 year 10 months and 3 years 7 months SLDBs drew bids worth $ 1.70 (entirety accepted at 7.65%) and $ 0.26 million, respectively, of which $ 0.15 bids were accepted at 7.68%.

The last SLDB issue worth $ 750 million (highest in recent years) 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.

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