PDMO rejects all Domestic Dollar Bond bids; market says bid rates too high
Photo: EconomyNextAI summary · 1 min read
1 min readFrom 2 outlets- EconomyNext reports that the auction took place on 23 October.
- The bond issue sought to raise $100 million, according to EconomyNext.
- EconomyNext says the interest rate was to be set through competitive bids.
- Daily FT reports market sources described demand as encouraging but the proposed rates as too high.
EconomyNext reports that Sri Lanka’s Public Debt Management Office (PDMO) turned down every offer at its Domestic Dollar Bond auction on 23 October. The PDMO referred to a clause in the offer document permitting it to accept or refuse applications fully or partially, and its notice gave no additional reason, according to EconomyNext.
EconomyNext reports that the proposed bond sale was designed to raise $100 million, with the interest rate to be established through competitive bidding. Daily FT says market sources characterized demand as encouraging but viewed the bid rates as too high.
EconomyNext places the auction amid market attention to the government’s debt-management and economic-stability efforts.
Your take
Be the first to reactDiscussion
Readers' views on this storyStory alerts
Get an email when an outlet reports something new on this story.
Earlier coverage
Reports on the same subject from the months before this story.
- EconomyNext · Sri Lanka Treasury bill yields rise marginally, Rs80bn sold
- EconomyNext · Sri Lanka to raise $100mn through domestic dollar bond auction
- Daily Mirror · Govt. eyes US $ 100mn dollar bond sale with room to triple offer
- EconomyNext · Sri Lanka holds pre-bid meeting ahead of Domestic Dollar Bond issue
- EconomyNext · Sri Lanka sells extra Rs2.2bn Treasury bills after auction