LIBOR is expected to end by December 2021 in UK and US. SL has issued SLDBs maturing till 2025

Libor (London Inter-Bank Borrowing Rate), once dubbed the world’s most important number, was discredited after the 2008 financial crisis when authorities in the United States and Britain found traders had manipulated it to make a profit. Widespread use of Libor is meant to end by December 2021 in Britain and the United States. But replacing Libor is proving expensive and tricky with concerns that, if mishandled, it could trigger credit market confusion and waves of lawsuits, finance industry sources said. Sri Lanka Dollar-denominated development bonds (SLDBs) priced floating rates pegged to 6M LIBOR. Maturity of some of those ranged to Jan 2025.