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.
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.