Private bondholders submit proposals to restructure their debt

Reuters reports that a committee of international private creditors of Sri Lanka has forwarded its debt restructuring proposal to the Sri Lankan authorities. The group includes 30 creditors including Amundi Asset Management, BlackRock, HBK Capital Management and T. Rowe Price Associates, the media added.

These 30 companies are global investment companies, and since Sri Lanka defaulted on its debt payments, they have been unable to get the money they invested in the country’s bonds. This is considered to be the first proposal made by the first bondholders since Sri Lanka declared its bankruptcy.

Before submitting these proposals, it is reported that the prominent Sri Lankan delegation led by the bond holders and Minister of State for Finance Shehan Semasinghe met and discussed in Washington.

However, Reuters reports that the Sri Lankan government has not responded to the request for comments on the new proposals, and the creditor committee has rejected to cpmment baout the proposal submited by them.

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