HSBC and Sampath Bank conclude deal for Sri Lanka Telecom
View(s):HSBC and Sampath Bank PLC announced the successful completion of a US$100 million five year term loan facility for Sri Lanka Telecom PLC to upgrade its telecom infrastructure. HSBC acted as Lead Arranger and together with Sampath Bank participated in raising this loan.
In a media statement, Patrick J Gallagher, CEO HSBC Sri Lanka and Maldives said, “This further demonstrates HSBC’s capability in structuring and arranging deals of this nature. SLT is a key name in the country and for HSBC Sri Lanka as well, and we hope this will further strengthen our relationship and steer SLT towards achieving their development objectives for the benefit of the country.”
Aravinda Perera, Managing Director Sampath Bank PLC said “we have always been an active partner with SLT, providing an internet payment gateway and solutions to SLT’s client base, conveniences via banking channels harnessing Sampath’s edge in technology. Also Sampath Bank has over the years been a partner in Syndicated financing for the SLT Group.”