Friday October 11, 2019 13:47:42
ECONOMYNEXT – Sri Lanka may launch a 60 billion yen (500 million US dollar) 10 year Samuarai bond around November 2019, Central Bank Governor Indrajit Coomaraswamy said.
The bond will get a 95 percent guarantee from the Japan Bank for International Co-operation, which has Japan government sovereign risk.
Sri Lanka this week appointed three joint lead managers to sell the bond.
“They are also expected to negotiate a competitive fee from JBIC,” Governor Coomaraswamy said. “We hope to get a good price because of that.”
Sri Lanka would ideally like to market late October but the bond may be launched around the first ten days of November, depending on market conditions, he said.
Presidential elections are due on November 16.
The cabinet of ministers had approved the appointment of Mizuho Securities Company Ltd, SMBC Nikko Securities Inc and Mitsubishi UFJ Morgan Stanley Securities Co. Ltd.
The 10-year Samurai bond will be equivalent to 500 million US dollars or 60 billion yen. (Colombo/Oct11/2019)