Sri Lanka extends deadline for foreign currency loan

Prospective lenders have been given extra time until October 05, to respond with proposals for a foreign currency term financing facility, the finance ministry said.

The extension was given because some investors requested more time to get internal approvals, Treasury Secretary Sajith Attygalle said.

The Expressions of Interest was originally expected to close on September 22.

Banks, investment houses or institutional investors could submit proposal for fixed or floating rate term loans in minimum tranches of 50 million US dollars or equivalent.

The loans will have to be a minumum of one year.

(economynext.com)

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