Making a success of the improbable

Issuer: Democratic Socialist Republic of Sri Lanka

Issuer: Democratic Socialist Republic of Sri Lanka

Amount: $50 million floating-rate note

Launched: 13 March 1997

Lead manager: Citibank & ING Barings

What makes a deal successful? For Sri Lanka it might simply be that one was possible. Think of the country, and you think of the Tamil Tigers and the war they have been waging against the government for the last 15 years. Sri Lanka’s last issue was in 1982, you would hardly expect it to tap the international capital markets now ­ it doesn’t even have a rating.

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