CBSL sells USD 100 mn worth development bonds

COLOMBO (News1st): The central bank has successfully sold 100 million dollars of dollar-denominated Sri Lanka Development Bonds (SLDB) more than the rupee treasury yields. Sri Lanka sold 73.33 million dollars of one-year one-month SLDB at an average yield of 6.57 percent fixed and 1 million dollars at 6.09 percent Weighted Average Margin over 6-month LIBOR. It received 106.33 million dollars of bids. The bank also sold 19 million dollars of one-year eight-month bonds at 6.62 percent fixed. The monetary authority also sold 6.12 million dollars worth of two-year nine months SLDB at 6.69 percent fixed while 0.55 million dollars worth of SLDBS were sold at 6.80 percent fixed. Sri Lanka’s 12-month Treasury bill rate fell 359 basis points so far this year to its historic low of 4.86 percent at Wednesday's auction, central bank data showed, amid the raft of measures to boost credit in a low-interest-rate environment to fuel the faltered economy grappled with the coronavirus pandemic.