Development Bonds oversubscribed

The Central Bank of Sri Lanka (CBSL) announced that the $150-million Development Bonds (SLDBs) it floated to eligible foreign and local commercial banks has been oversubscribed 1.3 times.

The total bids received have amounted to $195.5 million and the government had accepted $190 million of two-year SLDBs.

The offer was opened on August 6 with the settlement on August 18. This SLDB issue is within the annual borrowing limit approved by Parliament for 2009 and the funds mobilized through the new bond issuance are to be used to settle maturing SLDBs of $175 million.
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