The Steering Committee of the Ad Hoc Group of Sri Lanka Bondholders has expressed support for the restructuring terms covering all 11 series of the country’s US$12.55 billion in outstanding sovereign bonds.

Since Sri Lanka’s default in 2022, the Ad Hoc Group has engaged in constructive dialogue with Sri Lankan authorities to outline a bond restructuring framework aimed at restoring debt sustainability and ensuring equitable treatment for bondholders.

The group has also worked with the Local Consortium of Sri Lanka (LCSL) to seek a comprehensive and collaborative resolution to the country’s debt crisis.

“The Steering Committee strongly supports the terms of the bond restructuring outlined in today’s Invitation, which reflect the key legal and financial terms outlined in the AIP. Members of the Steering Committee confirm their intention to participate in the Invitation by tendering their outstanding bonds and providing their consents,” the committee said in a statement.

“They believe that the successful completion of the transactions contemplated by the Invitation and the debt relief provided under the restructuring terms will make a substantial contribution to ensuring the sustainability of Sri Lanka’s external debt in the medium term, paving the way for the country to achieve strong, sustainable, and inclusive economic growth,” it added.