Sri Lanka: bond investors ignore looming political risk

Sovereign picks perfect window to raise international debt before politics shift back to the forefront of investors' minds and the emerging markets rally runs out of steam.

Sri Lanka: bond investors ignore looming political risk

The Democratic Socialist Republic of Sri Lanka returned to the international bond markets on March 7. It picked what may turn out to have been the optimum issuance window to lock in its dollar-denominated bond funding for 2019.

The B2BB rated sovereign took full advantage of a strong rally in emerging market bonds and a hiatus in the ongoing domestic tug of war between former president Mahinda Rajapakse and current prime minister Ranil...

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