SriLankan Airlines has sold five year bonds valued at USD 175 million at a yield of 5.3 percent, reports Bloomberg.

Some 60 percent of these bonds have been reportedly bought by Asian investors while European investors have bought 25 percent and Middle Eastern investors 15 percent.

These bonds have been provided a government guarantee and Sri Lankan Airlines is to utilize the funds to purchase more aircraft and for its working capital.

This bond issue is managed by the Standard Chartered Bank.