The restructuring process for the $175 million government-certified bonds issued by SriLankan Airlines has been successfully concluded.
According to a statement issued by the airline, more than 99% of bondholders participated in the process, while over 97% voted in favour of the government’s proposal to exchange existing bonds for new government bonds along with cash payments.
Chairman of SriLankan Airlines, Sarath Ganegoda, said the successful restructuring will strengthen the airline’s financial stability and contribute to the country’s broader economic recovery.
Meanwhile, Secretary to the Ministry of Finance Dr. Harshana Suriyapperuma noted that with this development, Sri Lanka has now completed the restructuring of approximately 99% of its total foreign debt.
He emphasized that this milestone will help restore Sri Lanka’s international financial relations and improve the country’s credit ratings.
The final step of the restructuring process is scheduled to take place tomorrow, March 20.
