INSUBCONTINENT EXCLUSIVE:
(Reuters) - Sri Lanka has called for proposals from dealer managers to support its restructuring of some $12 billion of international bonds,
the Finance Ministry said on Thursday, in a fresh sign that the island nation is closing in on finalizing its debt rework.Sri Lanka
defaulted on its foreign debt in May 2022 as the economy sank into its deepest financial crisis in decades due to a severe shortfall of
International Sovereign Bonds (ISBs), the Government of Sri Lanka is working towards launching an invitation to exchange its existing ISBs
exchange proposal - an offer by an issuer to repurchase its outstanding bonds in exchange for new bonds with different terms as part of a
debt restructuring - is usually launched once an agreement in principle has been reached between the creditor and a group of core
bondholders.Proposals have to be submitted by April 10.Source: Reuters--Agencies
