The Central Bank of Srilanka have issued the Srilanka Development Bonds worth of USD 150 Million was oversubscribed by 1.5 times with total bid of USD 229.2 Million.

The Central Bank of Srilanka on behalf of the government of Srilanka issued the Bond for 3 years at commitment of USD 6 month LIBRO Plus a margin to be determined through competitive bidding.

The bond is issued by the government to raise financing for funding one or more Specific projects or development works in geographical area. The Center Bank was a sole sovereign bonds worth up to USD 1 Billion, which is most likely to be utilized for the redemption of the country’s first ever sovereign bond in 2012, which is matures in October 2012.

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