Download sri lanka nation building bonds

SRI LANKA NATION BUILDING BONDS
Tenure: The tenure of SLNBBs is five years.
The Sri Lanka Nation Building Bond (SLNBB) is a debt
instrument of the Government of Sri Lanka (GOSL) issued in
terms of the Foreign Loans Act No. 29 of 1957.
The Public Debt Department of the Central Bank of Sri
Lanka (CBSL), on behalf of the GOSL, will issue SLNBBs.
Interest Rates: Interest is computed on a variable rate based
on five year tenure of US Government Securities, UK
Government Securities or German Government Securities,
(as applicable). Interest will be paid at the end of every six
months to bank accounts designated by the investor.
Investors can get their interest and principal payments either
in Sri Lanka Rupees or in foreign currency in which the
investment has been made to their accounts. Both the
principal and interest on SLNBBs are repatriable.
Eligibility
The following categories of persons are eligible to purchase
SLNBBs.
a)
b)
c)
d)
e)
Sri Lankans who have their permanent residence
overseas (non residents).
Citizens of Sri Lanka who have taken up overseas
employment or set up business in abroad.
Citizens of Sri Lanka with dual citizenship.
Sri Lankan professionals living in Sri Lanka or abroad
who earn income in foreign currency.
Banks acting in fiduciary capacity on behalf of the
above categories.
Salient Features of SLNBBs
Issuing currency: SLNBBs denominated in US Dollars,
Sterling Pounds, and Euros.
Investment:
The minimum amount to be invested is as follows.
Currency
US Dollars
Sterling Pounds
Euros
Amount
500
250
500
Transferability: SLNBBs can be transferred among eligible
investors by registration at the Public Debt Department.
Custodian Bank
The Deutsche Bank AG, No 86, Galle Road, Colombo 3, Sri
Lanka, as the custodian bank for SLNBBs will maintain
records of investments in scripless form and will make all
payments to investors on due dates. The Custodian Bank will
issue statements confirming the balances of investors.
Lead Manager
The Bank of Ceylon, No 4, Bank of Ceylon Mawatha,
Colombo 1, Sri Lanka, as the Lead Manager, will assist the
CBSL to raise money from the targeted group by deploying a
marketing programme.
Form of Issue: SLNBBs will be issued in scripless form
Tax Treatment:
 Interest earnings on SLNBBs are exempted from
income tax/withholding tax/stamp duty.

Investors are entitled to import a vehicle of their
choice with a payment of 25% of CIF value in lieu
of CD, VAT & import duty. The CIF value of the
vehicle cannot exceed 20% of the face value of the
bond acquired by the investor subject to a
maximum value of US $ 35,000 and the
importation is subject to guidelines.
Joint Holders
SLNBBs can be held individually or jointly by the investors.
Repayment of principal and the payment of interest are made
to the person whose name appears first on the respective
record or to the surviving holder whose name appears next
on the record in the event of death of the first or subsequent
holder.
How to Apply for SLNBBs
Application Forms:
Applications for investments and transfer of SLNBBs can be
obtained from the ALM unit, Treasury Division, Bank of
Ceylon directly or downloaded from the websites of Central
Bank of Sri Lanka - www.cbsl.lk or Bank of Ceylon www.boc.lk or Deutsche Bank - www.ap.db.com/srilanka.
Application can be sent electronically via e-mail, facsimile or
by post.
Application should be supported by documentary evidence
regarding the eligibility eg. Photocopies or scanned copies of
pages of passport containing the photograph and the details
of the investor and proof of earning foreign currency and
proof of living /employment aboard etc. as may be relevant.
How to Transfer Funds?
Eligible investors can transmit funds to CBSL account
through the branch network of the Deutsche Bank AG
directly or through their correspondent banks or any
commercial bank by remitting the funds to the following
bank accounts indicating the purpose as “subscription to the
Government of Sri Lanka SLNBBs”
1.
Further Information:
Further information on SLNBBs can be obtained from
1.
ALM Unit, Treasury Division,
Bank of Ceylon, 4, Bank of Ceylon Mawatha,
Colombo 1
US Dollar investments
Tel : 94 -11-2395804
94-11-2471605
Fax : 94-11-2386860
Email : [email protected]
Website : www.boc.lk
Name of the Bank: Deutsche Bank Trust Co.,
(SWIFT: BKTRUS33)
Americas, New York
Postal Address:
P.O. Box 318, Church Street Station, N.Y.,
New York 10008-0318
2.
A/c No. 04-422-614-DB Colombo
2.
Sterling Pound investments
Name of the Bank: Deutsche Bank , London
(SWIFT: DEUTGB2L)
Postal Address:
6, Bishopsgate, P.O. Box 441, London EC 2P
2AT, England
A/c No.0341743-0000-GBP-000-LDN
-DB Colombo
3.
Euro investments
Name of the Bank: Deutsche Bank , Frankfurt
(SWIFT: DEUTDEFF)
Postal Address:
TZE – Bankenabteilung, Postfach 5223,
D-6236 Eschborn, Germany
A/c No. 9572900-DB Colombo
Foreign Currency Investment Division,
Central Bank of Sri Lanka
No 30, Janadhipathy Mawatha,
Colombo 1
Sri Lanka
Tel : 94 -11-2477270
94-11-2477291
Fax : 94-11-2477718 / 9
Email : [email protected]
Website : www.cbsl.lk
Democratic Socialist Republic
of Sri Lanka
Sri Lanka
Nation Building
Bonds