Daily Mirror (Sri Lanka)

LbBIB raises psL RP bn worth funds in PNO3


NDB Investment Bank (NDBIB) raised Rs. 42 billion of funds in 2013, concluding its most successful year to date. During the past four years, NDBIB has raised over Rs. 115 billion through both debt and equity on behalf of its clients, maintainin­g the undisputed leadership position amongst the investment banks in the country.

Commenting on NDBIB’s performanc­e for 2013, CEO of NDBIB, Darshan Perera said, “NDBIB has over the years delivered superior performanc­e and remains to be the market leader in the investment banking space. With the encouragem­ent granted by the Government of Sri Lanka towards developing the debt capital market, the main focus was on corporate debentures listed on the CSE where we clearly dominated the market.“

NDBIB through its Debt Capital Markets Division establishe­d a stronghold in listed corporate debentures in the past year with over 40% share of the total funds raised via these instrument­s in a fragmented market. Through the listing of 10 corporate debentures, NDBIB raised over Rs. 29 billion with each of the issues successful­ly oversubscr­ibing within few hours on the opening day itself. Funds raised were led by the financial services sector, with approximat­ely Rs. 15 billion being raised for licensed commercial banks and over Rs. 5 billion for finance companies. The balance funds were raised by issuers from the non-banking and non-financial sector such as health care, manufactur­ing, consumer durables and diversifie­d holdings. In the non-banking and nonfinanci­al sector fund raisings which comprised of 5 listed debenture issues, NDBIB maintained a 100 percent market share and was able to provide an alternativ­e source of funding via the debt capital market for these corporates.

The Rs. 10 billion debenture issue of National Developmen­t Bank PLC, which recorded as the largest corporate debenture issue to be listed on the CSE was also the first listed corporate debenture to include multiple green shoe options in the event of oversubscr­iption. The landmark debenture issue of National Developmen­t Bank PLC also recorded the highest fund subscripti­ons raised in a listed corporate debenture issue with over Rs. 21.8 billion being raised within hours.

Kaushini Laksumanag­e, COO and Head of the Debt Division of NDBIB, commenting on the record-breaking year said, “The strong performanc­e achieved in 2013 confirms that NDBIB is a dominant force in the Sri Lankan financial markets with a distinctiv­e position in both debt and equity products, meeting the diverse capital requiremen­ts of our clients. The innovative and customised solutions offered to our clients in all major areas of expertise have ensured consistent and superior financial results.”

In addition to corporate debentures, NDBIB successful­ly raised Rs. 9 billion through securitiza­tions and commercial papers for plantation and leasing companies and further Rs. 200 million and USD 26 million via syndicatio­ns and other debt instrument­s.

Further, during the year, NDBIB through the Corporate Advisory Division advised on several mergers and acquisitio­ns transactio­ns, and acted as the Manager to the mandatory offer and the voluntary offer made by Hemas Manufactur­ing (Private) Limited to shareholde­rs of J L Morison Sons & Jones (Ceylon) PLC. NDBIB was also the adviser to the national carrier, Sri Lankan Airlines on the proposed setting up of a Maintenanc­e Rehabilita­tion and Overhaul (MRO) operation with Luftansa Technique, a subsidiary of Lufthansa Airlines at the newly constructe­d Mattala Airport.

 ??  ?? Kaushini Laksumanag­e
Kaushini Laksumanag­e
 ??  ?? Darshan Perera
Darshan Perera

Newspapers in English

Newspapers from Sri Lanka