Sri Lanka appoints four foreign banks as lead managers for eurobond
Posted in Local News
Sri Lanka, which last month announced plans to raise $1.5 billion from the sale of a 10-year sovereign bond, has mandated four foreign banks as lead managers, Finance Minister Ravi Karunanayake said on Tuesday.
The banks are Citigroup, Deutsche Bank, HSBC and Standard Chartered, Karunanayake told Reuters.
“We have mandated the same banks we did last year and we are looking at the maximum we can go,” he added.
The funds raised will be used to fund a budget gap and reschedule some expensive short term loans, the government has earlier said.
(Reuters)
Just like selling the furniture of the house to pay off the debt.. What a clever finance minister. I wonder what will be left in the country after you left.
Yes Ravi,
CB Governor “Bond” Mahendran and SIL must be jumping with joy.