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SriLankan Airlines sees further default due to another missed coupon
By Marisa Wong
Los Angeles, June 27 – SriLankan Airlines Ltd. issued an update relating to its $175 million 7% bonds due 2024 (ISIN: XS2010609662) guaranteed by the government of Sri Lanka.
The company confirmed on Tuesday that it does not intend to pay the coupon due on June 25.
An event of default had already occurred as a result of the company’s failure to pay the coupon due on Dec. 25, 2022. A further event of default will occur as a result of non-payment of the June 25 coupon.
The company said its board intends to communicate further with bondholders.
The flag carrier of Sri Lanka is based in Katunayake, Sri Lanka.
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