Wednesday 16 September 2015

Sri Lanka sells Rs28.7bn in bonds; longer end auction yields higher

ECONOMYNEXT - Sri Lanka sold 28.7 billion rupees of bonds in an auction Tuesday after offering 16 billion rupees, data from the state debt office showed, after printing over 20 billion rupees to repay maturing short term bills last week.

Sri Lanka sold 3.1 billion rupees of 5 year bonds maturing on 10.05.2022 at an average yield of 9.58 percent, 07 basis points lower than the last auction at 9.65 percent on September 08.

A 9.559 billion rupee tranche of 7 year bonds maturing on 01.10.2022 was sold at an average yield of 9.95 percent. Similar maturity was last auctioned on July 09 for 9.14 percent.

A 5.241 billion rupee tranche 10 year bonds maturing on 01.08.2025 was sold at an average yield of 10.38 percent. A similar maturity was last auctioned on August 25 for 9.97 percent.

A 10.884 billion rupee tranche of 13 year bonds maturing on 01.09.2028 was sold at 10.88 percent, which is a new maturity.

In the secondary market bond yield were slightly up from yesterday, dealers said. Bond yields after the massive bout of money printing last week to repay maturity bills. 

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