Sampath Bank secures first tranche of USD 45 million from Banks in the Middle East and South Asia
Sri Lanka, June 15, 2020
Sampath Bank PLC, one of the leading commercial banks in Sri Lanka, successfully raised USD 45 million via a medium-term syndicated facility. The amount was disbursed in March 2020 and it is the first tranche of a USD 100 million signed facility. It is envisaged that the second tranche would be raised during the fourth quarter of this year.
The facility was provided by a consortium of banks in the Middle East and South Asia. Alpen Capital (ME) Limited, an investment banking advisory firm based in the UAE, acted as the sole financial advisor to the transaction.
Sampath Bank will be utilising the funds to support its ongoing business and growth requirements.
“We are delighted to announce that we have been successful in raising funds, especially during these difficult times, from the Middle Eastern and South Asian markets. I would like to thank the funding banks for supporting our growth strategy and our advisors, Alpen Capital, for facilitating this transaction.” said Nanda Fernando, Managing Director, Sampath Bank PLC.
“Sri Lanka is a very important market for Alpen Capital. We are extremely proud to support Sampath Bank PLC in its funding requirements. There exist many synergies between the GCC and South Asian markets and given our expertise in this space, we are able to successfully connect our clients with the right opportunities.” says Rohit Walia, Executive Chairman, Alpen Capital (ME) Limited.
Established in 1987, Sampath Bank has become a state-of-the-art financial institution that continues to be a market leader today thanks to its constant innovation and customer focused approach to business. Its unique tailor-made solutions, superior services and convenience of access have allowed Sampath Bank to further differentiate itself from the competition and stand out as the bank of choice for many in Sri Lanka.