Sri Lanka Seeks Bank Bids for Potential Dollar-Bond Exchange
- Officials invite financial institutions to submit proposals
- Progress on debt restructuring needed to unlock IMF aid
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Sri Lanka is working on a proposal to exchange its existing dollar bonds for new securities, a step that would help the crisis-plagued South Asian country secure more international financial aid.
The Ministry of Finance said on Thursday that it was inviting banks to submit proposals for the transaction. Financial institutions would work alongside Lazard Frères SAS and Clifford Chance LLP, according to a statement.