Sri Lanka 🇱🇰 and creditors agree on a $12 billion bond restructuring, a major step in resolving the nation's debt crisis post-2022

Sri Lanka 🇱🇰 and creditors agree on a $12 billion bond restructuring, a major step in resolving the nation's debt crisis post-2022 default.

⭕️ Bondholders will take a 28% nominal reduction on their bonds.

⭕️ Deal features economic performance-linked notes and governance-linked structures.

⭕️ Bondholder group holding 50% of overseas bonds includes Amundi, BlackRock, and Morgan Stanley.

⭕️ Agreement will help Sri Lanka to restore access to international capital markets and secure further IMF funding.