Friday, April 18, 2014   

Sri Lanka’s Rajapaksa regime raises US$1b more debt
(01-07 16:14)

Sri Lanka, ruled by President Mahinda Rajapaksa, said it raised US$1 billion through a sovereign bond issue despite a warning by the International Monetary Fund against increasing its foreign borrowing.
The central bank said the five-year bond, offering an annual 6 percent yield, was more than three times oversubscribed within hours of opening Monday.
The bank said 62 percent of the bonds were bought by US investors and Europeans took 26 percent while Asian investors made up the remainder.
Sri Lanka went ahead with the issue despite a warning by the IMF late last year that its external debt was too high and repayments were becoming a big burden.
The IMF said the island's short-term external debt was equivalent to over half its foreign reserves.—AFP
   
Other Business breaking news:
Amazon hit by strikes in Germany (04-17 17:07)
Hang Seng, Shanghai rise (04-17 16:58)
Flat open for European markets (04-17 15:48)
Nikkei gives up early gains (04-17 15:43)
China eases with reserve cut for rural banks: report (04-17 15:42)
Hang Seng inches up at mid-day (04-17 12:13)
Sony's PlayStation 4 sales top 7 million (04-17 12:06)
Weibo IPO priced at lower end: report (04-17 11:34)
Nikkei down by break (04-17 11:16)
Exports boost Italy's trade surplus (04-16 18:42)

More breaking news >>

© 2014 The Standard, The Standard Newspapers Publishing Ltd.
Contact Us | About Us | Newsfeeds | Subscriptions | Print Ad. | Online Ad. | Street Pts

 


Home | Top News | Local | Business | China | ViewPoint | CityTalk | World | Sports | People | Central Station | Spree | Features

The Standard

Trademark and Copyright Notice: Copyright 2014, The Standard Newspaper Publishing Ltd., and its related entities. All rights reserved.  Use in whole or part of this site's content is prohibited.   Use of this Web site assumes acceptance of the
Terms of Use, Privacy Policy Statement and Copyright Policy.  Please also read our Ethics Statement.