Assetline raises Rs 100m

Assetline Leasing Company Limited (ALCL) successfully concluded their first ever securitisation transaction.

The trustee for this issue was Deutsche Bank AG.

The issue raised Rs. 100 million for ALCL and was placed outside the commercial banking sector.

NDB Investment Bank Limited acted as structuring and placement agent to the issue. Assetline Leasing Company Limited is a subsidiary of DPMC Financial Services (Pvt) Ltd, which holds virtually 100% of share capital of ALCL.

David Pieris Motor Company Limited, the authorised agent for Bajaj branded Three Wheelers and Two Wheelers, Cherry branded vehicles and MRF branded tyres in Sri Lanka is the ultimate parent of the Assetline Leasing Company Limited.

ALCL is primarily engaged in the business of Lease Finance, Hire Purchase facilities which are some of the fastest growing forms of medium term financing in Sri Lanka and other financial services like Dealer Financing and Refinancing and other Credit facilities.