Serendib Frontier Capital raises Rs.475 m for Merchant Bank
View(s):Serendib Frontier Capital has successfully structured and placed Rs.475 million in Tier II qualifying subordinated debt for Merchant Bank of Sri Lanka and Finance PLC (MBSL), providing MBSL with additional capital to support its growth and regulatory requirements.
The five-year debt instrument, executed through a trust structure, offered a more efficient and cost-effective alternative to a listed subordinated debenture. This structure enabled faster execution while optimising costs. MBSL’s latest capital-raising initiative enhances its Tier II capital position, allowing the bank to expand its lending capacity and strengthen its financial base, Serendib said in a media release.
Serendib Frontier Capital managed the structuring and placement of the debt instrument, leveraging its expertise in structuring, capacity to innovate solutions to best suit clients’ requirements, and access to investors.
Commenting on the successful capital raise, the CEO of MBSL Dammika Hapuhinna said: This strategic capital infusion, facilitated by Serendib Frontier Capital, marks a significant milestone in our ongoing efforts to strengthen MBSL’s financial position. The structured Tier II subordinated debt placement provides us with the necessary capital cushion to meet regulatory requirements while also supporting our long-term growth strategy.”
Commenting on the transaction, Serendib Frontier Capital CEO Kavinda Dasanayake stated:
“We thank MBSL for placing their trust in us to structure and execute an innovative financial solution amidst challenging market conditions. We are focused on providing financial solutions that align with the specific needs of our corporate clients”
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