Sri Lanka road show from today for US$ 1 billion, 10-year bond sale

Monday, 11 July 2011 00:18 - - {{hitsCtrl.values.hits}}

Reuters: Sri Lanka’s Central Bank officials on Monday begin a three-continent trip to meet investors ahead of the country’s planned sale of a $ 1 billion, 10-year bond.

The officials, together with the appointed joint lead managers, will update global fixed-income investors at a series of meetings, the first in Singapore. They will also go to Hong Kong, Los Angeles, New York, Boston and London.

The travellers expect to meet 500 investors, compared with 350 the last time there was a similar trip by Sri Lankan officials, one participant said.

The Central Bank has mandated HSBC, Bank of America, Merrill Lynch, Royal Bank of Scotland and Barclays Capital as joint lead managers for the sovereign bond issue.

The Central Bank may go to the market by end of July as no other global bond issues are expected around that time, the participant said.

Asked about the investor update, Central Bank Governor Ajith Nivard Cabraal said: “We are, for the time being, maintaining a radio silence.”