Sri Lanka announces sovereign bonds exchange following Cabinet approval

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Sri Lanka has announced the launch of International Sovereign Bonds Exchange Following Cabinet approval.

Issuing a media release, the Ministry of Finance announced the official launch of the exchange (the "Invitation") of its outstanding International Sovereign Bonds (the "Bonds"), totaling approximately USD 12.55 billion, as of 25 November 2024. This follows the approval of the terms and conditions of the Invitation by the new Cabinet of Ministers of Sri Lanka, which was formed on 18 November 2024.

Holders of the existing Bonds are invited to tender their Bonds and exchange them for new instruments over a three-week period, with the final deadline set for 12 December 2024, the Ministry said.

Relevant information for holders is available at the Invitation website (https://projects.sodali.com/srilanka), subject to eligibility confirmation and registration.

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