ECONOMYNEXT – Sri Lanka’s state-run Bank of Ceylon has launched a syndicated loan of up to 200 million dollars appointing a Middle Eastern bank to arrange it, a media report said.
Bloomberg Newswires said Mashreqbank has been appointed to co-ordinate the syndication.
The first tranche of 100 million US dollars had already been signed, the report said.
Sri Lanka’s central bank governor Indrajit Coomaraswamy had said that states banks will seek to raise over 750 million
dollars and re-lend them to the government through Sri Lanka Development Bonds to help repay maturing loans in 2019.
A so-called ‘constitutional coup’ in October delayed the sale of bonds. (Colombo/Jan11/2018)