Sri Lanka releases results of T-Bond Exchange program under DDO

COLOMBO (News 1st); The Government of Sri Lanka on Wednesday (13) announced the final results of the program to exchange Treasury Bonds under the Domestic Debt Optimization program.

The percentage of the aggregate outstanding principal amount of Eligible Bonds for which valid Offers have been accepted by the Republic is 37%. 

The percentage of the aggregate outstanding principal amount of Eligible Bonds held by Superannuation Funds as of end June 2023 for which valid Offers have been accepted by the Republic is approximately 84%. 

The percentage of the aggregate outstanding principal  mount of Eligible Bonds for which valid Offers have been accepted by the Republic from Superannuation Funds necessary to achieve the Participation Threshold is 100%, subject to the final determination of the Inland Revenue.

Pursuant to the terms of the Invitation to Exchange, the Republic has determined that the Settlement Date for the Invitation to Exchange shall be 14 September 2023.

On the Settlement Date, the Republic will issue New Bonds to Eligible Holders in accordance with the relevant Exchange Form submitted by each such Eligible Holder to the extent that the Republic has accepted the Offers set out therein.

On the Settlement Date, the Republic will also pay to each Eligible Holder of accepted Offers the interest accrued and unpaid up to (but excluding) the Settlement Date on such Eligible Holder's Eligible Bonds in LKR.