Seylan leads Rs. 1b syndicated loan partnering DFCC to fund Ariyana Resort Apartment Project

Monday, 2 July 2018 00:00 - - {{hitsCtrl.values.hits}}

From left: DFCC Bank PLC Executive Vice President Palitha Gamage, Seylan Bank PLC Deputy General Manager (Project Financing) Piyal Hennayake, Home Lands Skyline Managing Director Nalin Herath and Home Lands Skyline Directress Harshani Herath

Seylan Bank PLC has arranged a syndicated credit facility of Rs. 1 billion to Home Lands Skyline Ltd. – a leading real estate developer in Sri Lanka. Seylan Bank PLC as the major lending party for the Syndicated Loan Agreement is partaking the financing with DFCC Bank PLC.

Home Lands Skyline expects to fuse the loan capital to gear-up the accelerated construction of their recently launched project and Sri Lanka’s first ever Resort Apartment Complex – Ariyana Resort Apartment Complex. Ariyana is an apt residential solution supposed to hinge several long prevailed gaps in the domestic residential real estate market.

In this most opportune era in Sri Lankan economy, this syndicated lending extended by Seylan Bank PLC together with DFCC Bank PLC as the financiers could be defined as a favourable turn towards the advancement of the flourishing Sri Lankan real estate sector.

The Syndicated Loan Agreement by Home Lands Skyline Ltd., between Seylan Bank PLC and DFCC Bank PLC was recently signed at the Seylan Bank Headquarters, with the participation of the higher management of the company and the senior officials representing the two banks.