$ 500 million bond to be issued through state banks in Jan. 2012
December 1, 2011 at 11:10 am · Close Watch · XFinancial
A bond worth $ 500 million is to be issued through state banks in January 2012, to settle the 46 billion Yen loan obtained for port development projects, during 1985-1996, Chairman of Ports Authority Dr. Priyath Bandu Wickrama said. It will be carried out in order to avoid the disadvantages that could occur when repaying the loan, due to depreciation of the value of the Rupee.
The government has already settled 55 billion yen that includes interest as well, he disclosed.
(JNW)