Sri Lanka Central Bank has announced its plans to auction US$ 200 million worth of development bonds to foreign and local investors.
The Public Debt Department of Central Bank will issue US$ 200 million in Sri Lanka Development Bonds of 3 months, 5 months, 1 year and 2 years 1 month tenor to eligible investors for subscription at a rate of either US Dollar 6 month LIBOR plus a margin (floating rate) or at a fixed rate to be determined through competitive bidding.
Minimum investment is US$ 100,000 with additional investments in multiples of US$ 10,000. The bonds are exempted from income tax paid in Sri Lanka.
The issue will be open for subscription from 3rd to 9th March and has a Date of Settlement of 11th March 2016.