Sri Lanka’s Central Bank says mobilisation of issuance of US$ 500 million Samurai bond approved
Governor of the Central Bank of Sri Lanka (CBSL), Dr. Indrajit Coomaraswamy has reportedly said the Cabinet of Ministers has granted approval to appoint a Steering Committee and a Technical Evaluation Committee for the mobilisation of the issuance of a US$ 500 million Samurai bond.
Speaking at The Asian Banker ‘Finance Sri Lanka 2019’ conference in Colombo, the Governor has stated that the Central Bank would work to issue the bond in the next two months as part of its effort to broaden Sri Lanka’s investment base.
Accordingly, the Steering Committee will select the lead manager for the bond and the Central Bank had earlier stated it may issue the bond in November.
This will be Sri Lanka’s first Samurai bond.
Dr. Coomaraswamy has been further quoted clarifying views on legislative and regulatory changes in the pipeline, pointing out that the Monetary Law Act was essential to prevent the Government from pressuring the Central Bank into printing money and would strengthen the independence of the Central Bank.
OSL take:
Given Sri Lanka’s economic policies along with the continuous growth recorded by the country’s economy, investing in Sri Lankan bond market would ensure definite yields to the respective foreign businesses/investors. Foreign businesses/investors could explore the possibility of investing in the planned Samurai bonds.
| Article Code : | VBS/AT/06092019/Z_2 |