Japanese buyer eyes Lanka treasuries
Bansai Securities, a Tokyo based investment house is planning to buy
10 billion yen (US $ 125 million) worth Sri Lankan rupee treasuries,
over the next 12 months, the Foreign Ministry said.
The first tranche of US $ 1.5 million s is expected to be made before
July 15, 2012. The New World Securities [Pvt] Limited, a Japanese
Securities firm authorized to trade in shares and financial instrument
in Sri Lanka is lead manager to the deal and Pan Asia Banking
Corporation Pl, will be facilitator, the Foreign Ministry said.
"The Embassy of Sir Lanka in Tokyo has played an active role in
securing the proposed investment. It has conducted several high-net
worth investor awareness programmed with the help of the New World
Securities [Pvt.] Limited.
"Proposed investment is expected to popularize T-bills and T-bonds
among Japanese investors," the Foreign Ministry said. Sri Lanka's
treasury bills now yield between 11 percent (3-months) and 12.78 percent
(one year). Two year treasury bonds yield 13 percent and 15 year bonds
yield 14.5 percent.
LBO
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