Central Bank of Sri Lanka calls for proposals from investment banks to sell US$ 2 billion sovereign bonds
Sri Lanka’s Central Bank has reportedly called for proposals from investment banks to sell up to US$ 2 billion in sovereign bonds in 2019.
According to reports, the bonds could be sold in US dollars, Euro, Chinese Renminbi and Japanese Yen.
Prospective managers were also asked to specify the cost of a currency swaps in the case the bonds are not denominated in US dollars, or guarantee fees, the Central Bank has stated.
The bonds have to be issued for a fixed coupon with a tenor of at least five years, reports state.
The country’s Cabinet of Ministers had last week granted approval to sell up to US$ 2 billion of bonds in 2019.
The call by the Central Bank of Sri Lanka for private investments banks to sell sovereign bonds has opened up an investment opportunity for foreign businesses/investors. Sri Lanka’s economic indicators show the country is heading on the right path to development and the government’s development agenda would also help in this aspect. Therefore, foreign businesses/investors could invest in Sri Lanka without having any doubts.
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