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Size of Sri Lanka syndicated loan not set-c.bank gov

COLOMBO, Feb 29 (Reuters) - Sri Lanka’s central bank has not yet decided on the size of a planned syndicated loan originally estimated at $300 million, the bank’s Governor Ajith Nivard Cabraal said on Friday.

Cabraal said the details of the loan, aimed at meeting part of the government’s 2008 budgeted borrowing, including the size and which bank or banks would extend the loan, would be announced after a board meeting on Tuesday.

Cabraal told Reuters by telephone the size of the loan, which comes on the heels of Standard and Poor’s revising its outlook on its ratings on Sri Lanka to negative from stable, was “not yet certain”.

“We have a board meeting on the 4th (of March). We’ll take a final decision on that day and then we’ll communicate with the market,” Cabraal added. “We have not yet finalised (on the banks).” (Reporting by Simon Gardner; Editing by Ben Tan)

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