Sampath Bank raises USD 100 million

Sampath Bank recently celebrated the success of its largest international loan transaction of USD100 mn that was concluded in the first quarter of 2013.

“The Bank’s consistent performance over the years coupled with its potential for sustainable growth have been the key driving forces in the success of this transaction and we are pleased to witness the high level of confidence placed by the off shore investors on the Bank’s strategic direction,” Managing Director Aravinda Perera said. The Bank has established a great track record in the loan syndications space with this latest transaction drawing a great deal of interest from a diverse range of investors from a large number of Middle Eastern and Asian Banks.

Consequently, this deal which was launched for USD 50 million was upsized over two fold as the Bank consciously decided to cap the final size to USD100 million to suit its cash flow requirements.

The transaction was facilitated by HSBC who acted as the lead arranger and book runner. Patrick Gallagher, Chief Executive Officer, HSBC Sri Lanka and Maldives said, “This affirms HSBC’s strong reputation in the market as a loan distributor. It was a well-coordinated cross border effort across Debt Capital Markets, Syndicated Finance and Financial Institutions, and manifests the strength of the franchise and its execution capabilities.”