EPF to participate in Treasury Bond exchange under DDO

The Employees’ Provident Fund (EPF) has submitted an offer to exchange the portfolio of their Treasury Bonds under the Domestic Debt Optimisation (DDO) programme, the Central Bank of Sri Lanka (CBSL) reported today (13 Sep.).

Accordingly, the EPF informed its members that, as an eligible participant, and with the approval of the Monetary Board of CBSL, it has submitted an offer to exchange the portfolio of Treasury Bonds of the EPF under the DDO programme, in terms of the invitation made by the Ministry of Finance, Economic Stabilisation and National Policies, following a Resolution adopted by Parliament in this regard.
The Monetary Board of the CBSL as the custodian of the EPF, having considered the two options available – Debt Exchange and Non-Exchange, decided to opt for the Debt Exchange offer with a long-term view in the best interest of the members of the Fund.

“Accordingly, the EPF tendered Rs. 2,667,512,169,237 face value of Treasury Bonds for Debt Exchange, including an additional Rs. 149,890,740,000 in excess of the minimum participation requirement considering its comparative benefits to the Fund.”

The Government has accepted the same and issued new Treasury Bonds to EPF with an equivalent face value, the CBSL reported.