The Government plans to raise a Foreign Currency Term Financing Facility (FTFF) denominated in United State Dollar (USD) up to a limit of USD 1,000 million in 2017.
The FTFF is expected to be raised at a fixed rate or a floating rate, linked to the USD 6 Month LIBOR with a maturity period of 3 years or more.
The proceeds of the FTFF will be used for the purposes of meeting corresponding import elements of development projects specified in the Budget for the Fiscal year 2017.
To this end, the Ministry of National Policies and Economic Affairs (MNPEA) on behalf of the government has invited financing proposals from domestic s incorporated in Sri Lanka and international s investment houses for the proposed FTFF. s, investment houses should submit proposals in multiples of USD 50 million up to a maximum of USD 1,000 million repayment can be in bullet or in tranches, while interest will be paid half yearly.
Domestic s should have maintained AA(lka) or above ratings ,for a period not less than five consecutive years by January 20, 2017.
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