Lanka goes for more US, Europe investors in $ 500 m bond issue

Sri Lanka last week preferred to allocate a majority 76% of its US$ 500 million sovereign bond issue with US and European investors which analysts viewed as a positive move.

Newly appointed USA Ambassador Patricia A. Butenis met with Governor, Central Bank Ajith Nivard Cabraal at the Governor’s Office last week.

They said that such an allocation would improve the profile of Sri Lanka among investors in these developed and key markets.
The strategy also comes hot on the heels of perceived strained relationships between Sri Lanka and the West especially the US and select European countries.
Last week the Government successfully managed to close the US$ 500 million 5-year sovereign bond issue with a coupon of 7.40%.
This was Sri Lanka’s first international offering following the end of the internal conflict.

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