GoSL has to Settle Rs 32,438M Maturing T Bills by 1 April

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By Paneetha Ameresekere

Central Bank of Sri Lanka (CBSL) on behalf of the Government of Sri Lanka (GoSL) will have to repay a total of Rs 32,438 million worth of maturing T Bills held by the market by next Friday (1 April), CBSL data showed.

Generally such repayments are met by selling ‘further’ T Bills to the market by auction the due date of which is next Wednesday (30 March) and the settlement date fixed for Friday. However, CBSL is yet to announce this new T Bill auction at the time of writing.

Meanwhile, the splits of the Rs 32,438 maturities due to be repaid to the market by next Friday are Rs 31,918 million worth of 91-day maturities and Rs 520 million worth of 182-day maturities respectively.  There are however no 364-day maturities due to be repaid to the market by next Friday. Maturing T Bills which are held by CBSL and which will also have to be repaid by next Friday are unknown as CBSL doesn’t make public such figures.

In related developments, CBSL on Thursday (24 March) announced the issuing of Rs 45,000 million worth of T Bond maturities to the market at an auction to be held next Tuesday (29 March) the splits of which are Rs 25,000 million worth of  2025 maturities  and Rs 20,000 million 2029 maturities, respectively. Settlement date of this T Bond auction too is next Friday. Issuing of T Bills and T Bonds is a popular way that GoSL resorts to, to raise money domestically (‘rupee loans’) to meet its local commitments. CBSL is the steward of GoSL debt.