ECONOMYNEXT – The Official Credit Committee (OCC) which is involved with Sri Lanka’s debt restructuring has agreed to the island nation’s proposal for the state-owned Srilankan Airlines’ debt repayment, Treasury Secretary Harshana Suriyapperuma said. SriLankan had issued a sovereign guaranteed 175 million dollar bond to raise cash as the firm made losses after the then President Mahinda Rajapasksa ousted Emirates as the managing shareholder. The Airlines last month informed the market that pending OCC approval, it had restructured the defaulted bonds with a 15 percent haircut which will exchange for cash and a 4.00 percent amortizing government bond. “We are…
OCC agrees to SriLankan Airlines’ debt restructuring proposal: Treasury Sec
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