DFCC raises US$ 45 million through International Loan Syndication
DFCC Bank has successfully concluded its debut international loan
syndication for US$ 45 million. The deal which was initially US$ 25
million was increased given the strong interest shown by a large number
of Middle Eastern and Asian Banks, which is a significant achievement
for a Sri Lankan Bank venturing into the international arena for the
first time given the challenging global environment and its
uncertainties. The transaction was facilitated by HSBC who acted as the
lead arranger and book runner.
“DFCC’s success in this debut international loan syndication is a
testament of our unique position in the local banking industry and
demonstrates the strong level of confidence placed in the bank and on
the positive growth outlook for the country by international investors,”
said Nihal Fonseka, Chief Executive, DFCC Bank.
The facility drew strong international support and allows DFCC Bank
to tap new investors and funding partners.
The success of this transaction also strengthens DFCC’s credit story
and its acceptance among a wide network of international investors for
its future transactions.
“The success of this debut international loan syndication underlines
HSBC’s approach to maintaining strong and lasting relationships with our
core banks, and the ability in closing large financial deals,” said
Chamira Wijetilleke, Head of Corporate Banking HSBC. DFCC Bank ranks
among the country’s leading banks with sustained profits and consistent
growth.
Set up in 1955, the bank has pioneered many innovations in Sri
Lanka’s financial sector and has been the financier of many trail
blazing Lankan entrepreneurs.
Today the DFCC Group’s total assets exceed Rs 130 billion (USD 1
billion).
DFCC Bank and its almost wholly owned commercial banking subsidiary
DFCC Vardhana Bank together, functions as an integrated entity in the
financial services sector offering the full range of business and
personal banking services seamlessly through a unified distribution
channel.
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