NDB IB and Alpen Capital arrange $ 35 million for National Savings Bank

Seated from left: NSB Senior DGM K. Raveendran, Indian Overseas Bank Country Head Shameer, Indian Bank CEO Basheer Ahamed, NSB GM/CEO Ajith Peiris, NSB DGM – Credit and International Banking Christine Jesudian, NDB Investment Bank CEO Darshan Perera and Alpen Capital (ME) Senior Director Dilip Samanthilake. Standing from left: NSB Chief Manager – Corporate Finance Janaka Herath, NSB Manager – Corporate Finance Jayanka De Silva, Indian Bank Senior Manager Satheeshkumar, Indian Overseas Bank Senior Manager Gangadharan, NDB Investment Bank COO Kaushini Laksumanage, NDB Investment Bank Assistant Vice President Eshani Thenuwara and NDB Investment Bank Assistant Manager Sarala Gunawardena

NDB Investment Bank Ltd. (NDB IB) – a subsidiary of the NDB Group – together with Alpen Capital (ME) Ltd. successfully arranged $ 35 million for National Savings Bank with the participation of Indian Bank and Indian Overseas Bank. 

The facility was structured at a competitive pricing leveraging on the longstanding relationship with the participating lenders coupled with NSB’s strong local credit rating of AAA (lka) and its robust financial and operational track record. 

NDB IB and Alpen Capital also take pride in having previously arranged a $ 100 million loan facility for NSB in 2018, with the participation of Commerzbank AG. 

NDB IB CEO Darshan Perera, expressing his thoughts on this successful transaction, said: “We are pleased that we were able to successfully arrange funds for NSB amidst the challenging times. The credit rating and stature of NSB in the market enabled us to arrange pricing at attractive rates with the participation of two leading Indian Banks operating in Sri Lanka.” 

Commenting on the transaction, NDB Director/Group CEO Dimantha Seneviratne said “Amidst several challenges including the country downgrade, we are quite pleased that we were able to raise funds for NSB and looking forward to engage in similar fund raising activities with the support of our Investment banking arm in order to support the country in attracting foreign funding and facilitating the country’s growth prospects.” 

In addition to the NSB fund raising, NDB IB has been in the forefront arranging funds for leading local commercial banks and corporates. NDB IB also played a prominent role in the M & A space having concluded significant transactions in the recent past.  NDB IB is the market leader for investment banking in Sri Lanka with over 23 years of operating history, and is the first and only investment bank in Sri Lanka to have been awarded the prestigious Euromoney Award for ‘Sri Lanka’s Best Investment Bank’ for nine consecutive years.