Original sentence: In a debt restructuring plan on 9 December 2017, 70% of the port was leased and port operations were handed over to China for 99 years, The deal gave the Sri Lankan government $1.4 billion, that they will be using to pay off the debt to China.It was initially intended to be owned by the Government of Sri Lanka and operated by the Sri Lanka Ports Authority, however it incurred heavy operational  losses and the Sri Lankan government was unable to service the debt to China
Edited sentence: In a debt restructuring plan on 9 December 2017, 70% of the port was leased and port operations were handed over to China for 99 years, relieving Sri Lanka of about US$1 billion of debt.It was initially intended to be owned by the Government of Sri Lanka and operated by the Sri Lanka Ports Authority, however it incurred heavy losses and the Sri Lankan government was unable to service the debt to China