Consultants seek role with creditors in Sri Lanka $ 12 billion debt restructuring

Advisers seek role with creditors for USD 12 Bn Sri Lanka debt revamp Ayres Investment Management LLP, DecisionBoundaries LLC and Perella Weinberg LP are among firms seeking to provide financial advice to Sri Lanka’s creditors, sources said, as the country heads towards a revamp of its $12 billion of external debt.

Some bondholders are weighing their options after the South Asian island nation unilaterally suspended external debt payments ten days ago, four sources familiar with the situation said, asking not to be named because talks are private.

Asset managers BlackRock Inc. and Ashmore Group Plc. are among the creditors organizing in a group ahead of the talks, and have hired law firm White & Case for advice.

The government, which has recently appointed Ali Sabry as finance minister, is also in talks with multiple firms to hire both financial and legal advisers.