LONDON- Sri lanka's beaten-down government bonds scored a second day of sharp gains on Thursday, as markets scaled back some of the negative sentiment that has hammered the country's markets in recent months.
Dollar-denominated bonds maturing in 2025 jumped as much 5.9 cents to over 62 cents, Tradeweb data showed, while $1 billion bonds coming due later in November 2020 inched above 90 cents on the dollar.
The crunch caused by the coronavirus saw some of Sri Lanka's bonds slump to less than half their face value last month. Debt-to-GDP levels are set to rise above 90% and almost 70% of government revenues are spent on interest payments alone.
(Reporting by Marc Jones; editing by Carolyn Cohn) ((marc.jones@thomsonreuters.com; +44 (0)207 542 9033; Reuters Messaging: marc.jones.thomsonreuters.com@reuters.net Twitter @marcjonesrtrs))