10 January 2023; Colombo – The Management of SriLankan Airlines Limited will hold a public presentation on 12 January 2023 to discuss the company’s rationale for the Consent Solicitation and its current situation. The presentation will start at 5:30PM (Indian Standard Time).
People who wish to attend must register by 4:30PM (Indian Standard Time) on 12 January 2023 using the following link: Registrations
In December 2022‚ Sri Lanka’s authorities confirmed that SriLankan Airlines has launched a Consent Solicitation to bondholders of its U.S.$175,000,000 7.000 per cent international bonds due in 2024 and guaranteed by the Government of the Democratic Socialist Republic of Sri Lanka (the Bonds). SriLankan Airlines has requested, among other things, a 12-month suspension of debt service payments covering the two coupon payments due on 25 December 2022 and 25 June 2023 on the Bonds, and a temporary 12-month waiver of events of default that are currently ongoing.
The specific terms and timings of the requested modifications by SriLankan Airlines to the Bonds are described in the announcement of the Consent Solicitation published on 22 December 2022.
The Sri Lankan authorities have strongly encouraged investors to support this initiative which is part of the Sri Lankan Government’s wider efforts to proactively overcome the country’s debt issue. This presentation from the Management of SriLankan Airlines will provide further details on the company’s strategy to address its situation in the current environment.
Lazard Frères and Clifford Chance are respectively acting as Sri Lanka’s Financial and legal advisors. For any investor enquiries, please contact: lk.investors@lazard.com and srilanka@cliffordchance.com
For any media enquiries, please contact: srilanka@highgate.ltd
A link to the announcement from SriLankan Airlines can be found here.
The full URL link to the registration page for the management presentation can be found below:
https://cliffordchance.webex.com/weblink/register/rb245915565871dfd52d9d055253ef611