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ECONOMYNEXT – State-run SriLankan Airways is halting coupon funds on its 175 million US greenback bond, Chairman Ashok Pathirage stated within the wake of the island defaulting on most exterior debt.
The bond has a sovereign assure.
SriLankan Airways will start discussions with buyers via the identical debt re-structuring staff that’s advising the federal government, he stated.
SriLankan Airways paid the coupon on the bond as soon as after the federal government defaulted on its bond utilizing its personal assets.
SriLankan Airways is on monitor to be privatized.
SriLanka defaulted on its international debt in April 2022 after two 12 months of cash printing drained its international reserves. (Colombo/Dec29/2022)
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