Sri Lanka central bank offers 30% haircut to bond holders | The Malaysian Insight

Sri Lanka central bank offers 30% haircut to bond holders

Debt restructuring is a key condition for Sri Lanka to secure a US$2.9 billion bailout from the International Monetary Fund in March. The 48-month programme comes up for its first review in September. – AFP pic, June 29, 2023.

SRI Lanka’s central bank today unveiled its domestic debt restructuring plan, envisaging a 30% haircut on dollar-denominated bonds, including international sovereign bonds. The bank said ISB holders can opt to accept a 30% reduction in their capital in exchange for getting the rest of their money back in six years at a 4% interest rate. The same terms were offered to Sri Lankan nationals holding dollar bonds.

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