Holders choosing the macro-linked bonds would take a haircut of 20 per cent on the principal, according to the proposal.
Reuters reported on Thursday Sri Lanka's private creditors had sent a new proposal on how to restructure $12 billion of overseas debt. The proposal suggests coupons as a mix of cash and payment in kind, with cash coupons from 2028 paying between 8 per cent and 9.5 per cent, depending on the maturity.The step-down option will be triggered if Sri Lanka's gross domestic product current prices for the 2026-2027 period is below $98.9 billion, when measured in 2028 by the International Monetary Fund's World Economic Outlook.Should the step-down option kick in, the coupons will be reduced by between 2.
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