Norton Rose Fulbright aids SriLankan Airlines

Global law firm Norton Rose Fulbright has successfully advised SriLankan Airlines Limited on the restructuring of its US$175 million government guaranteed bonds, which are set to mature in 2024. This intricate process involved a coordinated tender offer, consent solicitation, and an exchange offer. The legal team collaborated intensively with the issuer, SriLankan Airlines, its financial adviser, and a consortium of international bondholders along with their legal counsel to navigate the complexities of the restructuring.

Leading the Norton Rose Fulbright team on this significant deal was Peter Young, who was supported by counsel Julian Walley, senior associate Tommy Chew, and trainee solicitor Patrick Mulholland. Reflecting on the challenges faced during the restructuring process, Peter Young noted "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 offers a comprehensive range of services covering various equity and debt capital markets matters. Their expertise extends from domestic and international equity offerings to investment-grade and high-yield debt transactions involving sovereigns, banks, and institutional investors. This broad skill set positions them as trusted advisers for both issuers and underwriters, ensuring they can provide guidance on all forms of financing, including project bonds and restructurings.

As SriLankan Airlines navigates these financial waters, the support from Norton Rose Fulbright underscores the critical role that legal expertise plays in facilitating successful outcomes in complex financial structures.