The Central Bank, on behalf of the Government of Sri Lanka, offered to issue Sri Lanka Development Bonds of US$ 50 million open for 3-year tenor and 10-year tenor in aggregate to eligible investors for subscription at a rate of either US Dollar 6 month LIBOR plus a margin (floating rate) or at a fixed rate to be determined through competitive bidding.
The offer was opened from 02 - 09 March 2015 for bidding with the settlement on 16 March 2015. All bids received were for the floating rate option.
Following the bidding the Central Bank has accepted US$ 156.5 million in 3 year maturity at the market determined rates of US Dollar 6 month LIBOR + 377 bps weighted average margin, the Bank said in a statement.