COLOMBO, June 23 Sri Lanka sold $239.5 million in dollar-denominated, three-year development bonds on Monday, the central bank said.
The government accepted $239.5 million in three-year bonds at 6-month LIBOR plus 375 basis points (bps), the central bank said in a statement. It had offered $50 million for the issue.
The offer was 4.8 times oversubscribed, with 239.5 million total bids received.
The central bank said it decided to accept the entire sum after considering the high demand at a highly competitive margin for the development bonds and giving investors an opportunity to commit funds for a longer period.
Six-month LIBOR on Monday was at 0.3234 percent, the central bank said. (Reporting by Shihar Aneez and Ranga Sirilal; Editing by Clarence Fernandez)