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Latest articles in Sri Lanka

Sri Lanka set to pay eurobond next week but default inevitable from mid-2022

The market seems confident that the US$500mn eurobond will be paid when it matures on 18 January, with the government assuring investors that the necessary funds have already been allocated and bond prices on the SRILAN 5 ¾ 01/18/2022s rising from be...
Tellimer Research Patrick
Patrick Curran @ Tellimer Research 13 January 2022
Sri Lanka set to pay eurobond next week but default inevitable from mid-2022
Sri Lanka set to pay eurobond next week but default inevitable from mid-2022

Eight trades to watch in 2022

We highlight eight trades/assets to watch that could make for interesting opportunities next year, or situations to avoid: Angola, Argentina, El Salvador, Ethiopia, Ghana, Sri Lanka, Ukraine and Zambia. A short programme extension, or approval of a n...
Tellimer Research Stuart
Stuart Culverhouse @ Tellimer Research 22 December 2021
Eight trades to watch in 2022
Eight trades to watch in 2022

Sri Lanka: Default is inevitable but bonds reach recovery value

Sri Lankan eurobonds have continued to drop, with the SRILAN 6.85 03/14/2024s now sitting below US$52 versus our most recent target price of US$55. In both restructuring scenarios, we assume that default is triggered by failure to pay its January 202...
Tellimer Research Patrick
Patrick Curran @ Tellimer Research 21 December 2021
Sri Lanka: Default is inevitable but bonds reach recovery value
Sri Lanka: Default is inevitable but bonds reach recovery value

What we got right this year, and what we got wrong

We published our end-of-year trilogy last week (2021 review, 2022 Outlook and top picks for next year). Argentina and Ukraine – We were right to be cautious on both of these, with a Hold on both coming into this year. Egypt – One of our Top 5 picks h...
Tellimer Research Stuart
Stuart Culverhouse @ Tellimer Research 20 December 2021
What we got right this year, and what we got wrong
What we got right this year, and what we got wrong

Fixed Income Strategy: Top picks for 2022

We present our top picks for 2022. In addition, financing needs looks manageable, but recourse to the IMF remains an option if conditions dictate. We retained our Sell recommendation on 1 December with a target price of US$55 for the SRILAN 6.85 03/1...
Tellimer Research Stuart
Stuart Culverhouse @ Tellimer Research 17 December 2021
Fixed Income Strategy: Top picks for 2022
Fixed Income Strategy: Top picks for 2022

The biggest fintech disruption opportunities in international remittances

For most migrant workers, the cost of sending money home is still well above the United Nations’ 2030 Sustainable Development Goal of 3%. For low and middle-income countries the situation is even worse; we estimate an average transaction cost of 5.3%...
Tellimer Research Rahul
Rahul Shah @ Tellimer Research 13 December 2021
The biggest fintech disruption opportunities in international remittances
The biggest fintech disruption opportunities in international remittances