Sri Lanka seeking to borrow $3.5 bln through foreign debt
May 25, 2016 01:36 pm
Sri Lanka is in the process of borrowing up to $3.5 billion from foreign sources via syndicated loans, sovereign bonds, and sukuk, the country’s finance minister said on Wednesday.
“A $500 million syndicated loan is almost done with Credit Suisse. Once that is done, we will be going for another $500 million syndicated loan,” Ravi Karunanayake told a Foreign Correspondents Association forum.
“Then we will go for the sovereign bond within two to three weeks. We will also go for a sukuk.”
Karunanayake also said the government has appointed eight banks and four non-banking institutions as the lead managers for the upcoming sovereign bond and that the government may also sell bonds in China and Japan.
-Reuters
-Agencies
