Been a long time coming: Sri Lanka out for $300m

sri lanka fisherman px230
By Shruti Chaturvedi
30 Jun 2016

The Sri Lankan sovereign has finally hit the loan market for a $300m borrowing — a good three months after news emerged of a potential mandate and about a year after it issued a request for proposals. But the country is on much stronger footing now despite a ratings downgrade earlier this year, writes Shruti Chaturvedi.

The government of the Democratic Socialist Republic of Sri Lanka, through its Ministry of National Policies and Economic Affairs, has signed up five underwriters for its latest fundraising, which includes a greenshoe that could take the deal size to $500m.

But reaching the syndication stage has been a ...

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