Thu, 28 Mar 2024 Today's Paper

NTB structures US$ 33.5mn syndicated loan for Maldivian resort project

By

16 December 2019 08:20 am - 0     - {{hitsCtrl.values.hits}}

A A A

From right: NTB Assistant Vice President Structured Finance and Institutional Banking Lakshan Wanniarachchi, Senior Vice President Commercial Banking Hemantha Gunetilleke, Director/CEO Renuka Fernando, Sanken Overseas Executive Director Mevan Gunatilleke, DFCC Bank Senior Vice President Head  of Corporate Banking Shamindra Marcelline  and Senior Relationship Manager Mayanthi Ratwatte

 

Nations Trust Bank PLC (NTB) has successfully concluded a landmark US$ 33.5 million syndicated term loan facility for Bayswater Maldives (Private) Limited, a joint venture between Sanken Overseas (Private) Limited, Singapore Hospitality Holdings (Pte) Limited and HIMA Holdings (Private) Limited. 

The syndicate loan was structured and arranged by NTB with NTB and DFCC Bank as funding participants. NTB will also act as the facility agent and security agent for the syndicate. 
The facility was granted to finance a green-field 80-room, luxury resort in the Kaafu Atoll, Maldives, the construction of which will be undertaken by Sanken Overseas (Pvt) Limited, the overseas arm of the Sanken Group. 


This would be the fourth investment by Sanken in the Maldives resort sector.


Speaking at the conclusion of the event, NTB Director/CEO Renuka Fernando said, “This is a landmark transaction by the bank for an important corporate banking client. It highlights our capabilities in project finance and structured banking and underscores a key part of our corporate banking strategy. 


This transaction is also evidence of the confidence placed on Nations Trust Bank by a large Sri Lankan corporate operating internationally, to arrange their complex financing requirements.”
Sanken Overseas (Pvt) Limited Executive Director Mevan Gunatilleke appreciated NTB for being a key banking partner in driving their overseas business expansion, which is a vital strategic objective for Sanken Group. 


NTB is amongst the top 15 business establishments in Sri Lanka and its structured finance unit has made a strong impact in the loan syndication market over the past three years.

 


Order Gifts and Flowers to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Grocery, Kids Toys, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,Astrology, Courier/Delivery, Medicine Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka

  Comments - 0

Order Gifts and Flowers to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Grocery, Kids Toys, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,Astrology, Courier/Delivery, Medicine Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka

Add comment

Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.

Reply To:

Name - Reply Comment





Order Gifts and Flowers to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Grocery, Kids Toys, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,Astrology, Courier/Delivery, Medicine Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka

VAT increase: SOUNDs death knell for publishers, readers

Though the Government imposed VAT (Value Added Tax) on vegetables and other e

How female change-makers are driving Sri Lanka’s energy saving platform

Saving energy has become more of a responsibility than a habit in today’s c

A dull Ramadan awaits Muslims amidst the Soaring Cost of Living

In the coming days, Muslims across the world will welcome the Holy Month of R

New wildlife underpass to curtail HEC

As of February 2024, Sri Lanka lost another 38 elephants as a result of the H