Financial services company Lazard & law firm Clifford Chance appointed for debt restructuring

The Cabinet has previously approved the provision of the services of an International Financial Adviser and an International Legal Adviser for the Restructuring of External Debt of the Government.

According to the call for proposals, 28 proposals have been received regarding obtaining the services of a financial advisor and 23 proposals regarding obtaining the services of a legal advisor.

Accordingly, the Cabinet has approved the proposals made by the President to make the following procurements based on the recommendations of the Steering Committees appointed by the Cabinet of Ministers in respect of the two procurements:

  • Offering procurement for International Financial Advisory Service to M / s Lazard, France.
  • Offering procurement for International Legal Advisory Service to M / s Clifford Chance LLP

“Total fee estimate for the financial advisory service for 4 quarters of the year will be 5.6 million US dollars,” Co-cabinet Spokesman Minister Bandula Gunawardane said.

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