NTB arranges US $ 20mn syndicated loan for leading Maldivian resort developer
Nations Trust Bank PLC (NTB) concluded a landmark US $ 20 million syndicated term loan facility for Coastline Hotels and Resorts (Pvt.) Ltd recently.
The US $ 20 million facility is the first tranche of a larger syndicate loan for which NTB has been appointed as the mandated lead arranger by Coastline Hotels and Resorts (Pvt.) Ltd, a leading resort developer in the Maldives.
The funding participants in the syndicate are NTB and Hatton National Bank PLC. NTB will also act as the facility agent and security agent for the syndicate.
Commenting at the conclusion of the event, NTB Director/ceo Renuka Fernando said, “This is a landmark transaction for NTB as it highlights our capabilities in project finance and structured banking and underscores what will be a key part of our corporate banking strategy. This transaction is also evidence of the confidence placed in NTB by an international group, to arrange their complex financing requirements.”
In addition to resort development, Coastline Group has significant business interests in luxury resort management, international oil trading, construction and shipbuilding.