Sri Lanka Equity Forum
Dear Reader,

Registration with the Sri Lanka Equity Forum would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
Sri Lanka Equity Forum

Discussion Forum for Stock Market Investors in Sri Lanka

සිංහල පරිවර්තනය
Submit Post
Submit Post

Latest topics

» AAIC HAS BECOME THE BEST...NOW
by Yahapalanaya Today at 2:52 am

» Don’t care if the markets are going up, down or sideways. Find opportunities to make money.
by Asoka Samarakone Yesterday at 6:52 pm

» SRI LANKA @ 2020
by ruwan326 Yesterday at 12:37 pm

» Questionnaire on share market investor behaviour..!
by gayani2018 Yesterday at 8:52 am

» අනං## මනං ##
by ruwan326 Mon Jan 14, 2019 9:10 pm

» Daily Foreign Transactions
by heshan1997 Mon Jan 14, 2019 8:50 pm

» CROSSINGS TODAY
by ruwan326 Mon Jan 14, 2019 8:04 pm

» FOREIGN NEWS
by ruwan326 Mon Jan 14, 2019 8:02 pm

» Performance of the Market
by ruwan326 Mon Jan 14, 2019 7:57 pm

» Daily Stock Market Update
by Insights Equity Mon Jan 14, 2019 6:19 pm

» CSE net foreign inflows expected to rise as investors 'Look East'
by kalu351 Mon Jan 14, 2019 5:09 pm

» PLAYERS PICK OF THE DAY
by roshan1039 Mon Jan 14, 2019 3:22 pm

» intra day trading
by thu dam Mon Jan 14, 2019 12:51 pm

» CSE THIS WEEK
by ruwan326 Mon Jan 14, 2019 12:30 pm

» January dividend history (2010 to 2019)
by ruwan326 Mon Jan 14, 2019 11:24 am

» BFN කොටස් හිමීයන්ගේ අති විශේශ සභාව පෙරවාරි යේ ..
by kalu351 Mon Jan 14, 2019 10:45 am

» BFN WHY PRIVATE PLACEMENT PRICE IS 19.80
by kalu351 Mon Jan 14, 2019 10:30 am

» BFN EGM - FEB - BROKERS SAY FOR SURE PRICE WILL MOVE ABOVE 19-59 PRIVATE PLACEMNT PRICE SLOWELY SLOWELY
by kalu351 Mon Jan 14, 2019 10:24 am

» some banking sector valuations, looks under valued?
by arjunaupendra Mon Jan 14, 2019 10:07 am

» ##FUN TOONS###
by ruwan326 Mon Jan 14, 2019 9:12 am

» Chicken Run
by roshan1039 Mon Jan 14, 2019 7:24 am

» CTCE SHARE TO WATCH
by roshan1039 Mon Jan 14, 2019 6:33 am

» what are the shares to buy for short term ?
by roshan1039 Mon Jan 14, 2019 6:30 am

» Hayleys controlled Amaya, Carbotels set price of Hunas Falls stake at Rs. 696.35 Mn
by Miss-Sangeetha Sun Jan 13, 2019 8:35 pm

» JKH News & Reports
by ruwan326 Sun Jan 13, 2019 7:17 am

» We need a complete analysis on mid term direction of the CSE
by Yahapalanaya Sat Jan 12, 2019 10:16 pm

» How to Choose a Stock
by ruwan326 Sat Jan 12, 2019 9:35 pm

» HOTEL RUN FROM MONDAY
by roshan1039 Sat Jan 12, 2019 7:43 pm

» Weekly Stock Market Roundup
by Insights Equity Sat Jan 12, 2019 8:27 am

» Summary of Key Announcements during the week
by ruwan326 Fri Jan 11, 2019 8:01 pm

You are not connected. Please login or register

Sri Lanka Equity Forum » Stock Market Talk » China on track to bail out Sri Lanka with US$1.25bn in 2018

China on track to bail out Sri Lanka with US$1.25bn in 2018

Go down  Message [Page 1 of 1]

ruwan326

avatar
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
China is on track to bail out Sri Lanka with up to 1.25 billion US dollars in 2018, with a below market rate syndicated loan and smaller Panda bond planned for later this year, after coming under fire for driving the Indian Ocean island in to a debt trap.
Sri Lanka is facing foreign debt repayment spikes in 2019 to 2021 period and the island changed its borrowing laws to allow extra money to be raised early to stretch repayment.
Earlier in 2018 China Development Bank easily beat offers from Western international banks for a syndicated loan to win the mandate to syndicated a billion US dollar loan for Sri Lanka both in rates and tenor (Sri Lanka may get China Development Bank loan within two months).
While private international bank offered three year money, CDB offered 8-year funds with a 3-year grace period at around 5.25-5.35 percent.
In April 2018, Sri Lanka sold a 5-year bond for 5.75 percent.
"This is actually extraodinarIly good terms that we have got," Central Bank Governor Indrajit Coomaraswamy said.
The first 500 million US dollar tranche of the syndicated loan will arrive in Sri Lanka at the end of August, Coomaraswamy said. The balance would come in October.
China is also helping Sri Lanka sell a 250 million dollar equivalent Panda bond (Yuan denominated bond) at the end of 2018, in yet another move to fund Sri Lanka.
The People's Bank of China has just set up joint task force to help Sri Lanka with the Panda bond, Governor Coomaraswamy said.
Twin deals seem to indicate that China is going out of its way to bail out Sri Lanka, which until China's entry to the scene had an impeccable debt repayment record.
Coomaraswamy says China has always had friendly relations with Sri Lanka.
"During consultations it was clear that they see us as a key strategic partner as far as the BR (Belt and Road) initiative is concerned, given our location," he said.
"So that is a factor. And of course Sino-Sri Lanka relations have been excellent right through the Rubber-Rice Pact of 1952, they have always been with us."
"You remember during the conflict they were pretty much the main partner Sri Lanka had in terms protecting the territorial integrity. So China has always been supportive of Sri Lanka."
China has come under fire for funding so-called vanity projects in ex-President Mahinda Rajapaksa's hometown in Hambantota without proper feasibility studies. (Colombo/Aug03/2018)

https://economynext.com/China_on_track_to_bail_out_Sri_Lanka_with_US$1.25bn_in_2018-3-11431-1.html

Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum