ECONOMYNEXT - Sri Lanka sold 55.58 billion rupees of 4, 7 and 10-year bonds after calling offers for 57 billion rupees, at yields below the secondary market prices earlier in the day, auction data show.
The debt office, which is a unit of the Central Bank sold 18.58 billion rupees of 4-year bonds maturing on 01 March 2021 to yield an average of 11.94 percent.The same 4-year bonds were quoted at 11.95/05 percent before the auction dealers said.
18.6 billion rupees of 7-year bonds maturing on August 1, 2024 were sold to yield an average of 11.98 percent.The exact maturity was quoted around 12.20/40 percent before the auction.
18.4 billion rupees of 10-year bonds maturing on 01 August 2026 were sold to yield an average of 12.11 percent.
10-year bonds were quoted around 12.30/45 percent before the auction.It is not clear who bid at rates below secondary market at the auction.After the auction secondary yields did not drop, but dealers say due tolate auction results, there was no active trading.
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