Sri Lanka Raises $1B In Bond Sale

The government of Sri Lanka has raised $1 billion through a sale of global bonds, The Wall Street Journal reports. The sale of 10-year notes was oversubscribed by investors as it attracted bids from 315 accounts, with the U.S. taking 43%, Europe 30% and Asia 27%, while fund managers took 86% of the offering.

The U.S. dollar bond offering was priced at a yield of 6.25%. On the transaction, Bank of America Merrill Lynch, Barclays Capital, HSBC and RoyalBank of Scotland were the lead book-runners.

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