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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Sri Lanka awaits Cabinet approval to issue another dollar bond

Sri Lanka awaits Cabinet approval to issue another dollar bond

+5
WildBear
aj
sriranga
mra
Redbulls
9 posters

Go down  Message [Page 1 of 1]

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics

Sri Lanka is awaiting approval from the Cabinet of Ministers to go ahead with a planned dollar bond issue, which is likely to take place shortly.

“Within two to three weeks a decision will be made” a source closely working with the matter revealed.

According to the source, the primary aim of raising dollars via the bond issue would be to settle the debt of US$ 500 million, which Sri Lanka raised through a 5 year dollar bond issue in 2007.

“This will mature in October, so we have to settle it” the source said.

The country has already received proposals from a number of international banks to take part in dollar bond issue, while Sri Lanka is likely to mandate either 3 or 4 banks as done in the past.

Sri Lanka during the last 5 years has often tapped the dollar bond market after making its debut in 2007.

The country in the past has selected Banks such as Bank of America, Merril Lynch, Barclays Capital PLC, HSBC and the Royal Bank of Scotland to help raise dollar bonds from the international market.

In 2011, it raised Rs. 1 billion via a 10 year sovereign dollar bond at an interest rate of 6.25%.
http://www.news360.lk/economy/news-sri-lanka-07-06-2012-awaits-cabinet-approval-to-issue-another-dollar-bond-7765

mra

mra
Manager - Equity Analytics
Manager - Equity Analytics

taking Loans to settle Loans. disaster situation ahead. there will be a Bottle neck situation in the near future .

sriranga

sriranga
Co-Admin

Usual practice in developing and under developed countries.
Now a days in developed countries also.

http://sharemarket-srilanka.blogspot.co.uk/

aj


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics

May be Sri Lanka will break the record of USA

WildBear


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics

If real economy doesn't grow at least 7% for next five years, we might face a debt crisis as Greece. Will any one come to bail out us? .

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics

WildBear wrote:If real economy doesn't grow at least 7% for next five years, we might face a debt crisis as Greece. Will any one come to bail out us? .

"China, Russia are with us." some times back some one told in this forum.

UKboy

UKboy
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

At last government has found the easiest way to sort out the BOP issue ( temporarily) ..!!

GL Sri Lanka.. Oh god please let us find some crude oil in Mannar basin..

Slstock

Slstock
Director - Equity Analytics
Director - Equity Analytics

UKboy wrote:

GL Sri Lanka.. Oh god please let us find some crude oil in Mannar basin..

If so I hope one day we will not have to say "Oh god why did we ever find crude oil".

Antonym

Antonym
Vice President - Equity Analytics
Vice President - Equity Analytics

mra wrote:taking Loans to settle Loans. disaster situation ahead. there will be a Bottle neck situation in the near future .
@mra: Exactly! The country appears to be caught in a 'debt trap'.
Debt Trap is a situation where you add on a new debt in order to pay an existing debt. Generally, when a country, firm or individual is over-leveraged, and all credit sources are exhausted, it is said to be caught in a debt trap.

traderathome

traderathome
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

mmmmmmmmmmmm when is this going to end pirat

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