COLOMBO Aug 26 Sri Lanka's state-run National
Savings Bank (NSB) plans to raise a minimum $500 million
through the sale of a likely five-year bond with a target yield
around 7 percent, sources close to the deal told Reuters on
The final decision on size of the bond and tenure will
depend on market appetite, the sources said.
The bank, which had originally targeted $1 billion, 10-year
bond, has appointed Citibank, Barclays, and HSBC as the lead
managers for the lender's first global corporate bond and will
start roadshows on Monday in New York followed by Boston, Los
Angeles, London, Hong Kong, and Singapore.
"It will be a minimum of $500 million with minimum five-year
tenure, but depending on the market appetite, the size and
tenure will be decided," one source said on condition of
"Currently the markets are highly volatile. Our current
bonds in the secondary market are trading around 7 percent. That
gives some kind of a signal on the yield."
A second source confirmed the NSB's bond sales plans and