The National Savings Bank (NSB) has finalised arrangements to raise the controversial US$1 billion bond overseas through lead managers, HSBC, Citibank NA and Barclays, Finance Ministry sources said. NSB’s newly appointed chairperson W.A Nalini is to sign the agreement appointing lead managers soon, a senior official of the ministry said. The official said the 10-year [...]

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The Sundaytimes Sri Lanka

NSB finalises sale of US$1 billion bond

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The National Savings Bank (NSB) has finalised arrangements to raise the controversial US$1 billion bond overseas through lead managers, HSBC, Citibank NA and Barclays, Finance Ministry sources said.

NSB’s newly appointed chairperson W.A Nalini is to sign the agreement appointing lead managers soon, a senior official of the ministry said.

The official said the 10-year bond will be offered at current international rates and floated in the market early next month. The National Development Bank also announced this week that it would be floating a $250 million bond.

Dr. Jayasundera has issued a directive to officials to expedite the foreign borrowing process as the government needs to raise quick funds to finance infrastructure development projects.




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