Sri Lanka Central Bank Governor Arjuna Mahendran said to news that the Sri Lanka is waiting for the right time to launch a sovereign bond of up to US $1.5 billion, possibly with a longer tenure to roll over its debts in 2015.
The island nation’s last sovereign bond of US $500 million was priced at a yield of 5.125 percent in April 2014. And Now that inflation is coming down, I see no reason why we won’t get a better rate of interest, Mahendran told media.
Governor stated that we want to wait for an opportune moment. When that volatility decreases then we will be able to get the best possible rate for our borrowing and we will definitely go for a longer tenure, may be even a 20-year or 30-year is something to look for. We don’t want to increase the interest rate burden of the country.