Sri Lanka's NSB stands out among $7bn of supply

By Virginia Furness
03 Sep 2014

Sri Lanka’s National Savings Bank (NSB) made a stellar return to the market on September 2 as its rarity enabled bankers to tighten initial guidance by 35bp and drove pricing well inside where the bank’s debut bond came in 2013.

“Sri Lankan paper is very popular with investors as the country's borrowers have been very disciplined with the way they approach the capital markets,” said a syndicate banker on the trade. “The paper is rare and it’s also a fairly unique credit, so it stood out from the ...

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