Sri Lanka to offer tsunami bonds to raise $250 ml

COLOMBO, April 29 (AFP) - Sri Lanka plans to raise up to 250 million dollars for tsunami reconstruction through a dollar-denominated bond issue, officials said Friday.

The Central Bank of Sri Lanka said the bond issue of between 150 million to 250 million dollars will carry a two-year maturity period.

"The government is looking at raising between 150 million to 250 million dollars for reconstruction work," Central Bank Deputy Governor W.A. Wijewardene said.

He gave no details about the pricing or timing of the issue but officials said the issue could be launched within weeks.

Sri Lanka has estimated it needs about 1.5 billion dollars to rebuild infrastructure damaged by the December 26 tsunamis which battered the island's shores and left nearly 31,000 people dead.