Sri Lanka issues tightly priced $1 billion bond

The country was able to price Asia’s first sovereign bond of the year within its existing curve, with a bulk of US investors buying into the nation’s strong credit story.

Sri Lanka issues tightly priced $1 billion bond

Sri Lanka on Monday sold Asia’s first sovereign note a $1 billion five-year fixed-rate bond of the year, achieving pricing inside its existing curve as investors rush to hold the emerging market’s rarely offered notes.

The 144aReg S bond, the country’s first since July 2012, ended up pricing 25bp tighter than its initial price guidance of 6.25%, according to a term sheet seen by FinanceAsia.

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