The Central Bank last week raised $ 175 million via its most successful issuance of Sri Lanka Development Bonds (SLDBs) in nearly a year.
In the original auction, CBSL accepted $ 152.54 million worth of bids submitted for six months tenure and in the issuance window, a further $ 23 million was accepted.
The Weighted Average Yield was 9.48%. Bids received amounted to $ 185.08 million. It was also the first SLDB auction in eight months to be fully subscribed, according to Wealth Trust Securities.
Analysts attributed the success of the SLDB issue to the free-float exchange rate regime and higher rates. The latest SLDB auction was for $ 50 million with possible upsizing by an additional three times based on favourable market response.
(FT)