M Power Capital raises Rs 1.5 b in corporate debt | Sunday Observer

M Power Capital raises Rs 1.5 b in corporate debt

From left: M Power Capital Corporate Finance Vice President Naveen Samarasekera, Vice President Capital Markets Kosala Liyanagedara, Vice President Fixed Income Securities Menaka Wavegedara, Assistant Vice President Corporate Finance Kemith de Soyza.
From left: M Power Capital Corporate Finance Vice President Naveen Samarasekera, Vice President Capital Markets Kosala Liyanagedara, Vice President Fixed Income Securities Menaka Wavegedara, Assistant Vice President Corporate Finance Kemith de Soyza.

Incorporated in 2014, M Power Capital Limited (MPC) initially focussed on mergers and acquisitions, other corporate finance advisory mandates and middle market related private equity transactions. With the addition of a specialist debt team in 2018, MPC has now mobilised over Rs 1.5 billion for issuers of debt securities, other corporate debt instruments as well as fixed deposits - all this in the short space of three months.

MPC has placed such investments throughout the country across a wide range of investors that include Banks, Rural Banks, Corporates and High Networth Individuals. The trustees to such transactions have been People’s Bank and Hatton National Bank.

An agency agreement with Acuity Securities Limited enables MPC to offer its clientele investments in Government Securities while a similar arrangement with Ceylon Asset Management Limited covers Unit Trust investments. As such, MPC is able to provide the entire spectrum of fixed income products and services to a range of corporate and individual clients.

Financial markets in Sri Lanka have experienced unprecedented change over these last few months and there has been a negative impact on most risk aspects especially related to liquidity and interest rates. This has created a number of new challenges for corporates across different industries.

MPC’s Chairman Anil Cooray said, “With this new team of experienced and qualified investment bankers, MPC is fully geared to simplify what would normally appear to be a very complex or time-consuming transaction.”

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