Govt. raises $ 515 m via SL Development Bonds

The Government has raised $ 515 million via the latest issuance of Sri Lanka Development Bonds (SLDBs) yesterday. 

The $ 515 million offer of SLDBs in multiple tenors with fixed and floating rate options drew bids worth $ 999.3 million. The bulk of the bids had been for one year, seven months SLDBs floating rate with a value of $ 452.55 million, of which only $ 74 million was accepted at a Weighted Average Margin (bps) over six-month LIBOR (floating) of 274.93. 

On behalf of the Government, the Central Bank opted for $ 175.32 million of $ 184.32 million bids received for four year, nine months SLDBs with a Weighted Average Margin of six-month LIBOR + floating rate of 411.76 basis points. 

On four-year SLDBs $ 158.10 million were accepted out of $ 181.15 million bids at a Weighted Average Margin of six-month LIBOR + floating rate of 387.69 basis points. Furthermore, $ 107.65 million out of $ 181.29 million bids for three years were accepted at a Weighted Average Margin of six-month LIBOR + floating rate of 364.86 basis points. 

In May, the Government raised $ 285.18 million via the issuance of SLDBs.