HSBC secures fourth sovereign bond

HSBC acted as Joint Lead Manager, Bookrunner and Sovereign Rating Adviser on the US $ 1 billion 10 year bond offering.

The latest bond issue comes in the wake of the bank winning all of the three previous mandates by the Government of Sri Lanka with its inaugural issue in 2007, followed by issues in 2009 and 2010.

The final book stood in excess of $ 7.5 billion of orders from 315 accounts, which is an exceptional achievement for Sri Lanka given the volatile market backdrop.

Senior Investment Banking and Financial Institutions Group Manager Lakshan Goonetilleke, said the demand represents a strong vote of confidence from international investors in the progress made in Sri Lanka and it’s excellent economic prospects. Execution was intra-day, minimising market risk for the issuer.