Deputy Governor of the Central Bank Dharma Dereasinha said that the demand exceeded up to six billion US dollars.

“We will be paying back at the rate of 6.25 % within a ten year period” said the Deputy Governor.

He said that the terms and conditions offered were better than before and the current rate of 6.25% for the 10 year sovereign bond was significantly lower than the cost of previous borrowings.

Deerasinha said that the situation on borrowings has improved very much.

The Central Bank said that the offering attracted an order book that exceeded USD 6.3 billion within 14 hours of opening.

"Over-subscribed by more than 6 times, this clearly underscores the high global investor confidence based on the recent progress and the future prospects in Sri Lankan economy since the end of the conflict in the country.” he said.

The bonds are rated B+ by two international rating agencies, Standard & Poor’s and Fitch Ratings and will be listed on the Singapore Exchange.