Sri Lanka has settled the scheduled debt of USD 01 billion International Sovereign Bond Issue yesterday (July 26), State Minister Ajith Nivard Cabraal said. Sri Lanka has transferred funds to repay the $1 billion bond by the Tuesday (July 27) deadline, keeping intact its reputation for honoring debt as concern mounts about the nation’s overseas financing. The money was transferred Monday, Ajith Nivard Cabraal, the state minister for money and capital markets, told Bloomberg by phone. “Those who came last profited most.”The yield on the 6.25% Sri Lanka dollar bond maturing Tuesday slumped to 500% earlier on Monday, from 628% last week. The #bond investors who panicked due to rating actions and analyst reports and sold off at huge discounts, must be regretting.

Source: The Nation July 27, 2021 04:52 UTC