 |
| Wajid Kumaran
exchanging the agreement signed with Raju Sivaram |
Bank
of Ceylon (BOC) signed a one year
US$ 200 million syndicated loan facility, arranged by Emirates NDB Capital
Limited, Dubai, CeyNews reported. The
loan has attracted the lowest rate below 3.00% per annum and the proceeds of
syndication will be utilized for trade finance and general corporate purposes. Launched
at an amount of US$ 150 million, the loan facility was well received in the
market with the total book size reaching US$ 300 million during syndication,
representing an impressive over subscription of 100%. The facility was finally
closed at an increased amount of US$ 200 million.
“The signing ceremony of the US$ 200 million
syndicated loan facility has confirmed the Bank of Ceylon’s reputation in the
international financial market and the trust that these lending institutions
have placed on us. The BOC has been in the syndicated loan market over 15 years
with an unblemished track record and the signing of the loan facility with
Emirates NDB Capital Limited would be a landmark transaction in the syndicated
loan market in Sri Lanka,” BOC Acting Chairman Raju Sivaram said. BOC Senior
Deputy General Manager (International, Treasury and Investment) P. A Lionel
said that BOC is planning to have more substantial deals even below this 3
percent rate in the future.
