Sri Lanka sells all 2029 bonds, rejected 2025 bids on tap at 28.18-pct | Sinhala News

Sri lanka News – Sri Lanka has sold 43.5 billion rupees of bonds with the bulk of bids for a 2025 bond rejected as the asking rate shot up, data from the state debt office showed, amid heightened uncertainty.

The debt office sold at 40 billion rupees in 15 July 2029 bonds at a weighted average yield of 26.51 percent.

The bonds were widely expected to be subscribed by captive sources.

The debt office accepted 3,548 billion rupees of bids for a 01 June 2025 bond at 28.18 percent, after offering 30 billion rupees.

Bond will be available on tap until 4.00pm for public subscription.

High bids were generally expected to be rejected by some market participants. Some had bid as high at 43 percent. The lowest rejected bids were by Capital Alliance at 31.76 percent.

The central bank had earlier also rejected bids around 30 percent but inflation has now hit 50 percent and more money is being printed. (Colombo/July11/2022)

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