Sri Lanka exploits brief calm to raise $1 billion

Sri Lanka successfully prices a $1 billion global bond, riding on the country’s recovery story and positive moves by rating agencies.

Sri Lanka exploits brief calm to raise $1 billion

Markets have hardly been conducive to new debt issues recently, but Sri Lanka took advantage of a brief calm early yesterday morning to successfully price a $1 billion 10-year global bond.

Sri Lanka is used to dealing with bigger problems than volatile financial markets, and the once war-torn country’s ability to raise such a large amount of money at a competitive yield is testament to just how far it has come since the civil war...

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