CBSL to issue $ 500 million International Bond

The Central Bank of Sri Lanka, (CBSL) will issue an International Bond amounting to US dollars 500 million in international markets this year.

The funds that will be mobilised through the proposed bond issue are to be used for financing the infrastructure development programs of the Government.

CBSL invited proposals from selected banks/investment houses to act as Joint Lead Managers on July 2. In response, 12 international banks and investment houses submitted their proposals and made presentations to be selected as Joint Lead Managers.

After the evaluation process, the Monetary Board of the CBSL has now selected three proposers, J. P. Morgan, Barclays Capital and HSBC as Joint Lead Managers/Bookrunners/Underwriters to this bond issue.

This debut sovereign bond issue is also expected to serve as a benchmark for other corporate borrowers in Sri Lanka which have the capability of raising money in international capital markets.