Citi partnered the Central Bank of Sri Lanka (CB) on behalf of the Sri Lankan Government to successfully raise US$1.5 billion in a dual-tranche 5.5- and 10-year bond offering.  The notes were priced at a coupon and re-offer yield of 5.750 per cent and 6.825 per cent for the 5.5-year and 10year tranche, respectively. Both [...]

The Sunday Times Sri Lanka

Citi to partner Sri Lanka in $1.5 billion international bond issue

View(s):

Citi partnered the Central Bank of Sri Lanka (CB) on behalf of the Sri Lankan Government to successfully raise US$1.5 billion in a dual-tranche 5.5- and 10-year bond offering.  The notes were priced at a coupon and re-offer yield of 5.750 per cent and 6.825 per cent for the 5.5-year and 10year tranche, respectively. Both the 5.5-year and 10-year tranche were priced well inside the respective initial price guidance of 6.125 per cent area and 7.125 per cent area, Citi said in a media release.

The bonds have been rated ‘B1′, ‘B+’ and ‘B+’ by Moody’s Investors Service Standard and Poor’s and Fitch Ratings respectively. This marks the country’s 10th US dollar benchmark offering in the international bond markets since 2007.  Citi Country Officer for Sri Lanka Ravin Basnayake said: “Citi is honoured to have once again partnered with the Government of Sri Lanka in this successful transaction. The global investor support for this transaction underlines the strong confidence investors have in Sri Lanka’s credit story.

We are proud to have yet again supported the country in creating this new benchmark in the international capital markets”.  Citi Markets Head, Saneth Gamage commenting on the deal said, “The order book saw overwhelming support globally with one of the biggest order books we have seen for the country within recent years – $2.5 billion and $3 billion, respectively for the individual tranches and more than 400 investors in total”.

Advertising Rates

Please contact the advertising office on 011 - 2479521 for the advertising rates.