Sri Lanka to sell $200m bonds

Sri Lanka plans to sell 200 million dollars worth of bonds to foreign and local investors shortly, the island's central bank said Wednesday.
The issue, known as Sri Lanka Development Bonds, will be sold in maturities ranging from two to five years, C.J.P. Siriwardena of the bank's public debt department said.
The issue will be open for subscription from June 16 to 23.
The latest issue comes as the island is in the process of raising another 300 million dollars through a syndicated loan from Standard Chartered Bank and Deutsche Bank to pay for a raft of infrastructure projects.
Last October, the island raised 500 million dollars through a five-year sovereign bond issue, with the assistance of HSBC, JP Morgan and Barclays.
Sri Lanka, battling ethnic Tamil Tiger rebels since 1972, is pouring in a record 1.5 billion dollars into the war effort this year, hoping for a quick end to the conflict that has left tens of thousands dead.