Exclusive-Sri Lanka’s bondholders sent debt rework proposal to government – sources

By Jorgelina do Rosario and Rodrigo Campos

WASHINGTON (Reuters) – A committee of Sri Lanka’s international private creditors sent its first debt rework proposal to the country’s authorities to rework over $12 billion in bonds outstanding, according to three sources with direct knowledge of the matter.

This is the first bondholder proposal after the 22 million people island-nation defaulted on its debt over a year ago. The proposal is a first step to engage with the country’s authorities, said one of the people, who asked not to be named because discussions are private.

Representatives for the government did not immediately respond to a request for comment. A spokesperson representing the creditor committee declined to comment.

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