Sri Lanka Looking At Dollar-Bond Exchange

COLOMBO (News 1st); The Government of Sri Lanka is looking at a potential International Sovereign Bonds Exchange offer for this year.

The Ministry of Finance in a statement dated the 27th of March said in the context of the restructuring of its International Sovereign Bonds, the Government of Sri Lanka is working towards launching an invitation to exchange its existing ISBs denominated in United States Dollars for new ISBs in the same currency.

The Ministry of Finance, Economic Stabilization and National Policies on behalf of the Government of Sri Lanka is inviting Banks to submit Proposals for consideration to be appointed as a Dealer
Manager for the aforementioned Exchange Offer.

The statement added that any Dealer Manager(s) will work alongside Sri Lanka’s appointed financial and legal advisors, Lazard Frères SAS and Clifford Chance LLP, who are mandated to advise on and execute Sri Lanka’s ongoing sovereign debt restructuring process and who will lead on the Exchange Offer.

However, it noted that the request for proposals is not a committment on the part of the Government of Sri Lanka to accept proposals.