Sri Lanka has successfully concluded its international bond restructuring, following two years of intense negotiations, the Ministry of Finance said.
Issuing a statement, the Finance Ministry announced the successful conclusion of its offer to exchange defaulted international sovereign bonds (ISBs) for new securities, reporting an “extremely high” level of participation.
The offer, launched on November 25, 2024, invited ISB holders to swap their bonds for new debt instruments. This follows a September 19, 2024, agreement in principle with two key groups of bondholders representing around 50 percent of the outstanding ISBs.
At the close of the offer period, Sri Lanka reported an exceptionally high level of participation across all bond series, with nearly 98% of the total outstanding ISBs expected to be exchanged for new securities, the statement said.
Minister of Finance, Planning, and Economic Development, President Anura Kumara Dissanayake in the statement said the successful bond exchange would help normalize relations with bondholders and other key external partners.
“We are very pleased to see this vote of confidence from our international and local bondholders. The past few years have been very challenging for the Sri Lankan population, but all of our collective efforts are now paying off,” he said.
