Investor Presentaiton
Ongoing process with private creditors
ISBS holders have organized around two committees
ISBS account for a significant share of PPG FX commercial debt
In % of total commercial FX denominated public debt, excluding ECA-backed debt and SOES'
payables and including arrears, as at end-2022
Total: USD 20.3bn
34%
66%
•
■Other private creditors
■ISBS
•
•
ISBs international bondholders have
formed an ad-hoc creditor committee
The group is said to represent more
than 55% of ISBS non-domestic
holdings¹
A consortium of local private banks
holding ISBS has formed another group
The group has reported holdings in
around USD 1.5bn across all series of
ISBs (around 12% of outstanding ISBS)
Next steps with private creditors
Engage on a technical basis with bondholder committees'
advisors and other private creditors to ensure further
sharing of information and data, under NDAs
Establish the required restructuring discussion channels
with all private creditors and their advisors
o Reach agreements with private creditors and their
advisors that are (i) compliant with the IMF DSA targets
and (ii) comparable across different creditor categories
o Ensure the legal implementation of the agreements
reached with all parties
▸ The achievement of the IMF Board Approval allows Sri Lanka to accelerate and intensify engagements with all
categories of creditors
Source: Central Bank of Sri Lanka
Note: (1) Holdings estimation provided by two bondholder committees
16View entire presentation