Acceptance is for both proposed modifications and exchanged for new securities or otherwise exchanged for new securities.

The move entails issuing

$ 10.4 billion in Macro-Linked Bonds (MLBs), including $ 1.6 billion in Governance Bonds and Rs. 155.7 billion in Rupee Bonds, on 20 December thereby completing the restructure of ISBs.

The final result of the invitation to exchange of ISBs was published on the London and Singapore Stock Exchanges.

Via the notice the Government confirmed that the Minimum Participation Condition has been met and pursuant to and in accordance with the terms of the Invitation, the Non-Aggregated CAC Existing Bonds Requisite Consents have been met, hence Sri Lanka will implement the Non-Aggregated CAC Existing Bonds Proposed Modification and, immediately thereafter, the Non Aggregated CAC Modified Bonds Proposed Modification by way of a mandatory exchange of the Non-Aggregated CAC Existing Bonds for an allocation of New Securities.

Subject to the terms and conditions, the New Eurobonds, the Exchange Fee Bonds and the Local LKR Bonds will be issued on or around 20 December with the complete settlement process expected to be finalised shortly thereafter.