SLDBs oversubscribed

The Central Bank of Sri Lanka (CBSL) on behalf of the Government, offered to issue Sri Lanka Development Bonds (SLDBs) to eligible investor categories for subscription at a rate of US Dollar 6 month LIBOR plus a margin to be determined through competitive bidding. The Bonds on offer amounted to US Dollar 150 million for a two year maturity period.

The offer was opened on August 6 with the settlement on August 18. The offer was oversubscribed 1.3 times of the offer by both foreign and local commercial banks, with the total bids received amounting to USD 195.5 million. Of such bids, the Government has decided to accept USD 190 million of two year SLDBs at the market determined rate of US Dollar six month LIBOR + 449.8 percent (weighted average margin).