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Sri Lanka to sell USD200m worth of bonds.

Global Banking News-29 May 2008-Sri Lanka to sell USD200m worth of bonds(C)2008 ENPublishing - http://www.enpublishing.co.uk

Global Banking News - 29 May 2008(c)2005 - Electronic News Publishing - http://www.enpublishing.co.uk

Sri Lanka is planning to sell USD200m worth of bonds to foreign and local investors shortly, Thomson Financial has reported, citing the island's central bank.

The issue, named Sri Lanka Development Bonds, will be sold in maturities ranging from two to five years and will be open for subscription from June 16 to June 23, 2008.

Sri Lanka is currently in the process of raising another USD300m through a syndicated loan from Standard Chartered Bank (LSE: STAN) (STD.DE) (OTC: SCBFF) (HKG: 2888) and Deutsche Bank (NYSE: DB) (DBK.DE) to fund infrastructure projects.

The island had raised USD500m through a five-year sovereign bond issue in October 2007, with the assistance of HSBC (LSE: HSBA) (NYSE: HBC) (HKG: 0005), JP Morgan (NYSE: JPM) and Barclays (LSE: BARC) (NYSE: BCS).

[Editorial queries for this story should be sent to gbn@enpublishing.co.uk]

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Publication:Global Banking News (GBN)
Date:May 29, 2008
Words:187
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