After two years of challenging negotiations, Sri Lanka has successfully completed the restructuring of its international bonds, the Ministry of Finance said.
In a statement, the Ministry of Finance said that the process of issuing new securities for defaulted International Sovereign Bonds (ISBs) has been successfully completed. This was in accordance with the invitation extended to creditors in accordance with an agreement reached by Sri Lanka with the majority of bondholders on 19 September 2024.
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In a statement, the Minister of Finance, Planning and Economic Development, President Anura Kumara Dissanayake, said that the successful bond swap will help normalize relations with bondholders and other key external partners.
Central Bank says nearly 98% of bondholders expect to receive new securities to replace defaulted bonds