roadshow-begins-for-sri-lankan-bond

Roadshow begins for Sri Lankan bond

The sovereign begins investor meetings this week for its benchmark maiden bond.
The roadshow for Sri LankaÆs sovereign bond began yesterday in a favourable climate, as US job creation figures released on Friday were higher than expected, implying a reduction in US recession risk.

Barclays Capital, HSBC and JPMorgan have been mandated by Sri Lanka and are organising investor meetings in Asia, Europe and the US.

The sovereign's maiden bond, expected to be up to $500 million in size, comes after two years after the country first announced that it would tap the international bond market. At the time, the plans were put on hold as the country found cheaper financing through loans.

This time around Sri Lanka is issuing into a market still recovering...
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