Written by Staff Writer
22 Jun, 2022 | 8:55 am
A privately held bondholder sued Sri Lanka in the U.S. District Court in Manhattan over the country’s alleged default on a $1 billion sovereign bond maturing next month.
Hamilton Reserve Bank Ltd., which holds more than $250 million of Sri Lanka’s 5.875% International Sovereign Bonds due July 25, filed the suit Tuesday in a New York federal court seeking full payment of principal and interest.
Hamilton Reserve Bank Ltd demanded immediate payment of $257.5 million of principal plus interest, saying Sri Lanka had stopped servicing its sovereign debt and missed payments on two other bonds, causing a cross-default.
An International Monetary Fund (IMF) staff mission arrived in Sri Lanka early this week to continue talks on a bailout program.
16 Aug, 2022 | 05:18 PM
25 Jul, 2022 | 03:47 PM
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