HNB raises $100 mln facility with ADB
View(s):HNB this week said it entered into a landmark agreement with the Asian Development Bank (ADB) to raise US$100 million by way of a 7 year senior debt.
This is the largest transaction by ADB with a Sri Lankan private sector bank and the funds raised would be deployed towards infrastructure development projects with special emphasis on renewable energy, power and irrigation which are key sectors in the eonomic resurgence of Sri Lanka, the local bank said.
Commenting on this transaction Jonathan Alles, HNB Managing Director/CEO said, “we are delighted to partner with ADB to raise long term funding for the bank. This is testimony to the trust placed by international investors and funding institutions in HNB. Since 2012 HNB has raised nearly Rs. 30 billion from foreign sources at attractive rates and this clearly demonstrates the bank’s sustainable business model, robust growth trajectory, strong capital structure and its lead position in the banking industry”.
The agreement was signed in Colombo by Ms. Rose Cooray, Director and Mr. Alles on behalf of HNB and by Ms Sri Widowati, Country Director on behalf of the ADB.
Picture shows Ms. Rose Cooray, HNB Director exchanging the facility agreement with Ms Sri Widowati, Country Director - ADB flanked by Jonathan Alles, Managing Director /CEO of HNB and Asif Cheema, Investment specialist of ADB together with their respective teams.