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Mayer Brown represented the joint lead managers in the issuance of a dual tranche bond offering totaling US$2.40 billion by the Democratic Socialist Republic of Sri Lanka.

The dual-tranche issuance, which comprised US$1.0 billion 6.85 percent bonds due in 2024 and US$1.4 billion 7.85 percent bonds due in 2029, was priced on March 7 and closed on March 14.. 

The offering generated robust demand from international investors, marking another successful return of the government of Sri Lanka to the US dollar bond market.

"Mayer Brown is pleased to be entrusted with advising the joint lead managers on the successful issuance of the latest bond deal by the Democratic Socialist Republic of Sri Lanka," said Thomas Kollar, the lead partner of the transaction. "We have been involved in numerous sovereign and quasi-sovereign issuances over the course of the last 18 months.  Our participation in these important transactions demonstrates the unwavering confidence of our clients in our capabilities in advising on complex sovereign financings."

Last year, the Democratic Socialist Republic of Sri Lanka’s US$2.5 billion 5.75 percent and 6.75 percent April 2023 and 2028 bond deal, on which Mayer Brown advised, won the “Best Sri Lanka Deal" award from FinanceAsia magazine.