This is a noteworthy achievement for a first time borrower from Sri Lanka venturing into international markets as NDB became the first bank to break the 12 month tenure and price into an 18 month facility.
The transaction attracted strong interest from a large number of Middle Eastern and Asian Banks. HSBC acted as the Lead Arranger and Bookrunner.
“NDB’s success in its debut international loan syndication demonstrates the confidence placed by the international financial community on the bank’s strong fundamentals, its standing in the local banking industry and the positive growth outlook of the country,” said Chief Executive Officer Russell De Mel.
Despite the current global financial uncertainties, the offering drew strong international support. This facility also paves the way to tap new investors and funding partners and reinforces NDB’s acceptance among a wide network of international investors for its future dealings.
With a strong franchise and island wide branch network, NDB is well positioned to benefit from the country’s growth potential. NDB was recently awarded the ‘Best Commercial Bank’ in Sri Lanka by the UK based World Finance magazine and this prestigious accolade was awarded in recognition of the bank’s commitment to continued excellence and superior service to its customers.
The award appraises excellence achieved by banks against several criteria, which include; overall performance, financial ratios, variety and clarity of products and services, corporate governance, alternative financial products offering, parallel market interaction and competitive strategy.
NDB also gained significant global acclaim for its 2011 Annual Report recently as it was ranked amongst the World’s Top 100 as well as Asia Pacific’s Top 50 whilst winning two Platinum awards and one Gold award at the Vision Awards 2011 conducted by the League of American Communications Professionals (LACP).