Home / Front Page/ NDBIB arranges Rs. 1 b for Resus Energy Group

NDBIB arranges Rs. 1 b for Resus Energy Group


Comments / {{hitsCtrl.values.hits}} Views / Tuesday, 8 September 2015 01:25


NDB Investment Bank Ltd. (NDBIB) is continuing to establish itself as the leader in the investment banking space by providing corporate advisory services especially with regard to structuring M&A transactions, which include Management Buy Outs (MBOs) and raising debt via capital markets in Sri Lanka.

As part of the capital restructuring process to unlock shareholder value, the subsidiaries of Resus Energy PLC (REP, formerly known as Hemas Power PLC) raised over Rs. 1.0 billion via a syndicated debt facility with the participation of National Development Bank and Sampath Bank. NDBIB played a key role in this transaction as financial advisor and arranger for the debt facility and has been in the forefront in the restructuring process of REP group.

BUP_DFT_DFT-1-03

 

 

 

 

From left: NDB Investment Bank CEO Darshan Perera, Sampath Bank DGM (Credit) Shashi Kandambi Jassim, Resus Energy Director Suren Madanayake, Resus Energy Managing Director Kishan Nanayakkara, Resus Energy Director Vajira Kulatilaka, NDB Vice President (Corporate Banking) Buwaneka Perera and NDB Vice President (Group Risk Management) Nirmala Rayen

 

In late 2014, NDBIB facilitated the acquisition of 75% of Resus Energy PLC from Hemas Holdings PLC, by putting together a consortium of equity investors, viz; NDB Capital Holdings Ltd., ACL Cables PLC and Trydan Partners Ltd. (i.e. the management team), which amounted to over Rs. 1.7 billion.

As the final stage of the said restructuring process, the directors and the shareholders of REP have approved a share repurchase at Rs. 24 per share, which has already been announced to the Colombo Stock Exchange.

In addition to its corporate advisory services, NDBIB has been active and enjoy leadership position in the local debenture market having already raised over Rs. 17 billion for clients of various sectors via the capital markets in Sri Lanka. 

NDBIB is a fully-owned subsidiary of NDB Capital Holdings Ltd., which in turn is a 99.66%-owned subsidiary of National Development Bank PLC. Euromoney, the world’s premier financial markets magazine, adjudged NDBIB as the ‘Best Investment Bank in Sri Lanka’ at the recent Awards for Excellence 2015 for the fourth consecutive year.


Share This Article


DISCLAIMER:

1. All comments will be moderated by the Daily FT Web Editor.

2. Comments that are abusive, obscene, incendiary, defamatory or irrelevant will not be published.

3. We may remove hyperlinks within comments.

4. Kindly use a genuine email ID and provide your name.

5. Spamming the comments section under different user names may result in being blacklisted.

COMMENTS

Today's Columnists

More of the same

Tuesday, 20 February 2018

Those of you who’ve read what I have written over the years could, justifiably, experience a sense of déjà vu as you read what follows. That said, I will make no apology for the burden of this piece because it will, again, state the eternal verit


Looking beyond the current political gridlock: Future of Tamil nationalist politics

Tuesday, 20 February 2018

The landslide victory of the Sri Lanka Podujana Peramuna (SLPP) in the recently concluded local government (LG) elections naturally attracted much attention to assessing the future trajectory of the domestic political landscape. The heavy focus on th


Liberal democracy is dead. Long live liberal democracy.

Tuesday, 20 February 2018

Liberal democracy as propounded and practiced by the UNP is dead. Beating up the statistics of the recent local election will not bring it back, but the UNP still remains the best vehicle for reviving liberal democratic ideals. Pohottuwa or the Sri L


Navigating a nuclearised Asia for smaller states: Reviving Sri Lanka’s commitments to disarmament

Tuesday, 20 February 2018

Throughout its diplomatic history, Sri Lanka has maintained a strong anti-nuclear stance. Given the perceived need to avoid antagonising nuclear powers in the region, Sri Lanka has communicated this stance as a general normative and ethical position,


Columnists More