Monday, 15 February 2021 21:13

National Savings Bank raises international funding of USD 35 Mn Featured

National Savings Bank has recently raised a USD35 million loan facility supported by Indian Bank & Indian Overseas Bank, NSB media release revealed.

The relationship that NSB enjoys with its banking partners has allowed NSB to access the international debt market at a competitive interest rate. The facility was arranged jointly by NDB Investment Bank of Sri Lanka& Alpen Capital of Dubai.

Indian Bank & Indian Overseas Bank has been identified as the most appropriate international lending partners, NSB announced.

It was able to leverage on its unique strengths of having a local credit rating of AAA (Ika) along with a strong financial and an operational track record of performance, in reaching a highly satisfactory agreement.

“The bank has been successful in raising funds, especially during these difficult times and the NDB Investment Bank & Alpen Capital, for facilitating this transaction,” said National Savings Bank General Manager / CEO . Ajith Peiris.

NSB is presently focused on an ambitious mid-term strategy targeting 2021 as part of diversifying its sources of finances to spearhead Government initiatives in critical post-COVID revival of enterprises and entrepreneurs in the country.

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Last modified on Monday, 15 February 2021 21:20

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