National Savings Bank achieves milestone in international funding of US$ 35 mn | Daily News

National Savings Bank achieves milestone in international funding of US$ 35 mn

Darshan Perera – CEO of NDB Investment Bank, Shameer – Country Head of Indian Overseas Bank, K Raveendran – Senior DGM – NSB, Basheer Ahamed – Chief Executive Officer of Indian Bank, Ajith Peiris – GM/CEO of NSB, Christine Jesudian – DGM ( Credit & International Banking ) NSB, Dilip Samanthilake –  Senior Director Alpen Capital (ME) ltdand Kaushini Laksumanage– COO of NDB Investment Bank exchanges the agreement
Darshan Perera – CEO of NDB Investment Bank, Shameer – Country Head of Indian Overseas Bank, K Raveendran – Senior DGM – NSB, Basheer Ahamed – Chief Executive Officer of Indian Bank, Ajith Peiris – GM/CEO of NSB, Christine Jesudian – DGM ( Credit & Intern

National Savings Bank has announced that it has recently raised a US$ 35 million loan facility supported by Indian Bank & Indian Overseas Bank.

The excellent relationship that NSB enjoys with its banking partners has allowed NSB to access the international debt market at a competitive interest rate. The facility was arranged jointly by NDB Investment Bank of Sri Lanka and Alpen Capital of Dubai.

Having followed a transparent process, Indian Bank and Indian Overseas Bank were identified as the most appropriate international lending partners. NSB was able to leverage on its unique strengths of having a local credit rating of AAA (Ika) along with a strong financial and an operational track record of performance, in reaching a highly satisfactory agreement.

“We are happy to announce that we have been successful in raising funds, especially during these difficult times. I would like to thank the funding banks for supporting our growth strategy and our advisors, NDB Investment Bank and Alpen Capital, for facilitating this transaction,” said National Savings Bank General Manager / CEO Ajith Peiris.

NSB is presently focused on an ambitious mid-term strategy targeting 2021as part of diversifying its sources of finances to spearhead Government initiatives in critical post-COVID revival of enterprises and entrepreneurs in the country. This loan will provide much impetus in expanding the Bank’s Balance Sheet and steering it towards this goal.NSB is committed to the development of the country and its citizens, as a trusted financier with a track record nearing 50 years.

A pioneer state Bank that is geared to support Government policies of economic growth, NSB has won local and global recognition for its efforts.

In October 2020, the Bank raised Rs. 5 Bn via Additional Tier I Capital Bond Issue. Further, it has raised Rs. 26 Bn via debenture issues in 2016 & 2019 and an unprecedented USD 1 Bn through Sovereign Bond Issue in 2013.

NDB Investment Bank and Alpen Capital (ME) Ltd., acted as the sole financial advisors to the transaction.

The duo also supported NSB in obtaining a USD 100 Mn loan facility in 2018.

Alpen Capital (ME) Ltd. is incorporated as a limited liability company in the Dubai International Financial Centre, Dubai, United Arab Emirates and is licensed by the Dubai Financial Services Authority.