SriLankan seeks suspension of payments from holders of bonds worth USD 175mn View(s):The debt-ridden SriLankan Airlines has requested a 12-month suspension of debt-service payments from holders who have invested in its USD 175 million government-guaranteed international bonds which mature in 2024. The deferral of interest payments covered the coupon payments due on December 25, 2022, and June 25, 2023. It also referred to the Government’s ambitious reform plan, and ongoing talks with the International Monetary Fund (IMF) to secure a USD 2.9 billion Extended Fund Facility. “The recovery of post-pandemic international travel has had a positive impact on passenger numbers. However, the situation in Sri Lanka remains difficult and this in turn continues to put pressure on the company’s revenue and costs,” the statement said.

Source: Sunday Times January 01, 2023 12:49 UTC