Norton Rose Fulbright advises SriLankan Airlines on restructuring of US$175 million government guaranteed bonds

Global law firm Norton Rose Fulbright has advised SriLankan Airlines Limited on the restructuring of its US$175 million government guaranteed bonds due 2024, implemented through a coordinated tender offer, consent solicitation and exchange offer.

The team worked closely with the issuer, its financial adviser and a group of international bondholders and their counsel on the restructuring.

The Norton Rose Fulbright team advising on the deal was led by Peter Young, with support from counsel Julian Walley, senior associate Tommy Chew and trainee solicitor Patrick Mulholland.

Peter Young said:

"This was a highly significant and complex restructuring, requiring intensive coordination among the issuer, domestic stakeholders and international bondholders. We are pleased to have supported SriLankan Airlines in achieving this successful outcome."

Norton Rose Fulbright's capital markets team covers the full range of equity and debt capital markets matters, from domestic and international equity offerings and multiple listings for large multinationals, to investment grade and high-yield debt transactions for sovereigns, banks, export credit agencies, multilaterals, institutional investors and international companies, as well as securitization and derivatives. Its lawyers regularly act for both issuers and underwriters, and can advise on all forms of financing, including project bonds, green/renewable bonds, liability management and restructurings.