Sri Lanka seeks proposals from banks and investors to sell up to US$ 2 billion in sovereign bonds
The government of Sri Lanka has reportedly sought proposals from banks and investment houses to sell up to US$ 2 billion in sovereign bonds in 2018.
The Central Bank of Sri Lanka (CBSL) has announced that the bonds could be sold in single or multiple tranches.
According to reports, the deadline for the proposals is Tuesday (23).
Governor of the Central Bank, Indrajit Coomaraswamy has been quoted as saying in the media that he would prefer to go to market early in 2018 before the US Fed raised interest rates further.
Meanwhile, rating agencies had upgraded Sri Lanka’s sovereign rating on the back of lower budget deficit and higher tax revenues though economic growth slowed as the country recovered from a money printing bout in 2015/2016 as well as a drought.
The positive response received so far for the call for proposals from banks and investment houses to sell up to US$ 2 billion in sovereign bonds in 2018 indicates the level of investor confidence on the Sri Lankan economy. Foreign investors could use these indications to explore investment opportunities in Sri Lanka.
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