SriLankan Airlines Completes $175M Bond Restructuring With Over 99% Participation

The restructuring process for the $175 million government certified bonds issued by SriLankan Airlines has been successfully concluded.

Over 99% of bondholders participated in this process. Furthermore, more than 97% of bondholders voted in favor of the government’s proposal, agreeing to exchange all existing bonds for new government bonds and cash payments, accordiung to a statement issued by Sri Lankan Airlines. 

According to the statement, Sarath Ganegoda, Chairman of SriLankan Airlines, stated that this success will strengthen the company's financial stability and contribute to the country's economic prosperity.

The statement adds that, the Secretary to the Ministry of Finance, Dr. Harshana Suriyapperuma, highlighted that with this milestone, Sri Lanka has now completed the restructuring of 99% of its total foreign debt.

He emphasized that this will help restore Sri Lanka’s international financial relations and improve the country's credit ratings. 

The final step of this process is scheduled to take place tomorrow, March 20th.