Citi on 24th June partnered with the Central Bank of Sri Lanka on behalf of the Sri Lankan Government to raise US $ 2.0 billion in a dual-tranche 5-year and long 10-year bond offerings. The Notes were priced at a yield of 6.35 percent and 7.55 percent for the 5-year and 10-year long tranche, respectively. Both tranches were priced well inside the respective initial price guidance. The bonds were rated ‘B2’, ‘B’ and ‘B’ by Moody’s Investors Service Standard and Poor’s and Fitch Ratings respectively. This marks the Republic’s fourteenth U.S. dollar benchmark offering in the international bond markets since 2007. “We are honoured to support the country in this landmark transaction. The pricing achieved and the investor appetite underlines the continued investor confidence in Sri Lanka”, said Ravin Basnayake, Citi Country Officer, Sri Lanka. This landmark transaction represents the country’s second return to the U.S. dollar bond markets during this year and Citi acted as Joint Lead Manager, Joint Bookrunner and Ratings advisor reflecting Citi’s global capabilities, dominant market position and global network presence.
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