Sri Lanka’s Public Debt Management Office (PDMO) has sold an additional Rs. 10,040 million of treasury bills offered on tap at an average rate of 8.25 percent, lifting total bills sold over the past week to Rs. 136.94 billion.
The tap auction covered the 6-month maturity at 8.25 percent. Total market subscription stood at Rs. 10,040 million, with settlement scheduled for May 4.
The tap follows Wednesday’s primary auction, where the PDMO raised Rs. 126.9 billion of 3, 6 and 12-month bills against an offer of Rs. 140 billion — leaving room for the supplementary issuance to top up government cashflow.
Sri Lanka’s Public Debt Management Office was set up to consolidate sovereign borrowing functions previously split across the Treasury and Central Bank, and runs weekly bill auctions to fund near-term obligations and roll over maturing paper.
Source: EconomyNext.
