Nations Trust Bank gets US$ 50m, syndicated loan from FMO | Sunday Observer

Nations Trust Bank gets US$ 50m, syndicated loan from FMO

From left: Executive Vice President Treasury & Investment Banking - Nations Trust Bank, Indrajith Boyagoda,  Senior Investment Officer FI-Asia, FMO, Pieter Gorgels, Executive Director – Public Sector and Development Organizations, Standard Chartered Bank, Deniz Harut, CEO, FMO, Peter van Mierlo, Director/CEO, Nations Trust Bank, Renuka Fernando, Manager FI-Asia, FMO, Marnix Monsfort,  MD, Actiam, Theo Brouwers, and Associate Syndications, FMO, Alessio Crestani.
From left: Executive Vice President Treasury & Investment Banking - Nations Trust Bank, Indrajith Boyagoda, Senior Investment Officer FI-Asia, FMO, Pieter Gorgels, Executive Director – Public Sector and Development Organizations, Standard Chartered Bank, Deniz Harut, CEO, FMO, Peter van Mierlo, Director/CEO, Nations Trust Bank, Renuka Fernando, Manager FI-Asia, FMO, Marnix Monsfort, MD, Actiam, Theo Brouwers, and Associate Syndications, FMO, Alessio Crestani.

FMO, the Dutch Development Bank, recently arranged a USD 50 mln syndicated loan for Nations Trust Bank (NTB) in Sri Lanka.

The loan supports further growth in Nations Trust Bank’s business banking activities. Chief Executive Officer of Nations Trust Bank, Renuka Fernando said the facility not only provides stable longer term funding to the Bank but also opens doors to broad base funding options by establishing relationships with other commercial lenders some of whom are new to the Sri Lankan market.

FMO has included two participants in the syndicated loan who are first time lenders in a FMO arranged syndicated transaction.

This syndicated transaction is FMO’s first repeat deal for Nations Trust Bank, following a subordinated loan which was provided eight years ago to further the Bank’s ambitious growth strategy.With this syndicated facility, FMO was able to blend tranches from commercial lenders and themselves to offer an overall facility with a five-year tenor that resulted in a maturity profile that aligned well with the client’s needs.

The financing underlines FMO’s commitment to driving Sri Lanka’s growth through partnerships with solid local institutions and by enabling other financial institutions to easily access this market.

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