Sri Lanka

Sri Lanka’s Bank of Ceylon is seeking a fundraising of up to $200m, returning to loans after a two year absence. But while the borrower is approaching lenders at a time when they are very liquid, it may struggle to woo new banks, writes Shruti Chaturvedi.

Sri Lanka’s Bank of Ceylon, which last accessed the offshore loan market in 2013, is making a comeback for a new $100m borrowing.

Sri Lanka had to pay up to get its second dollar bond of the year across the line this week, but the money left on the table was more than worth it as the sovereign ended up raising $1.5bn, a record for the country.

The Democratic Socialist Republic of Sri Lanka has tapped the dollar bond market for the second time this year with a $1.5bn transaction. Even though the sovereign had to pay up more than in its May outing, it ended up executing its largest ever bond.

The Democratic Socialist Republic of Sri Lanka is out in the dollar bond market for the second time this year, marketing a new deal on Tuesday. The country has opted for the same format, tenor as the previous deal via the same banks.

Sri Lanka’s growth over the past couple of years has been nothing short of exceptional, following the end of an almost three decades-long civil war. But the positivity has faded somewhat this year. Market participants say the country must now clear up its political troubles if it is to truly fulfil its potential. Rev Hui reports.

I know it can be exciting to boast about your business trips. But youngsters in the business really need to make sure they know who they are bragging to.

Two recent loans from Sri Lanka have once again put the spotlight on the country, which has seen few borrowers going down the syndicated route. Conversations with bankers reveal prominent arrangers are interested in securing business out of the South Asian country, but upcoming elections, the small size of its conglomerates and unfamiliarity pose constraints to dealflow, writes Shruti Chaturvedi.