Sampath Bank helps in State Bank of India Syndicated Loan
View(s):Sampath Bank PLC has participated in a significant financial milestone, contributing to the US$750 million senior unsecured syndicated term loan facility for the State Bank of India (SBI), facilitated by Mashreq, one of the leading financial institutions in the MENA region. This collaboration highlights Sampath Bank’s commitment to supporting strategic international financing initiatives, the local bank said on Monday.
The facility, initially launched at $350 million in May 2024, attracted strong global interest, leading to its upsizing to $750 million. These funds will support the general corporate needs of SBI, the nation’s largest financial institution, bolstering its capacity to drive economic growth and stability.
Speaking on the decision to participate, Amal Kirihene, Senior DGM – Corporate Banking from Sampath Bank PLC stated, “Our involvement in this syndicated loan aligns with our strategic objectives to enhance our investment portfolio while securing strong returns. Given the current political climate and our expectations of credit growth, this three-year loan offers a promising opportunity for us to lend to a highly reputable institution like SBI. Our prior experiences with long-term financing in other regions have equipped us to navigate this commitment with confidence.”
Mashreq, serving as the Sole Global Coordinator, Mandated Lead Arranger, and Bookrunner, played a pivotal role in bringing together leading financial institutions from across the globe. The transaction was also joined by prominent banks including Saudi National Bank and Banque MISR.
Sampath Bank’s participation in this landmark transaction exemplifies its proactive approach in seizing opportunities within the international financial landscape, further solidifying its position as a key player in cross-border financing.
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