Sri Lanka’s Public Debt Management Office sold an additional Rs.24 billion of treasury bonds on tap on Monday at the average rates set at this week’s primary auction, lifting the week’s total bond issuance to Rs.264 billion, official data showed.
The original tap offer carried Rs.240 billion across three maturities. The 1 August 2030 maturity (LKB00530H016) was tapped at a weighted average yield of 11.86 percent; the 15 January 2033 maturity (LKB01533A154) at 12.32 percent; and the 15 March 2035 maturity (LKB02035C155) at 12.93 percent. Total market subscription at Monday’s tap window reached Rs.51.9 billion, with the debt office accepting Rs.9 billion at the 2030 line, Rs.7 billion at the 2033 line and Rs.8 billion at the 2035 line. Settlement is June 1.
The Rs.264 billion weekly total ranks among the larger primary-market issuances since the post-restructuring auction calendar resumed. It comes as the same three points on the yield curve held flat in secondary trade on Monday, and as the Finance Ministry’s Revenue Management Committee opens a public consultation on lifting tax revenue toward 20% of GDP — the kind of structural-revenue measure IMF Mission Chief Evan Papageorgiou has flagged as critical to keeping the debt trajectory on its improving path.
Sources: Sri Lanka sells extra Rs24bn Treasury bonds after auction — EconomyNext.
