Bridge Financing

Feb 21, 2013 (LBO) – Sri Lanka’s Hatton National Bank will provide a loan of 6.779 million sterling pounds equivalent in dollars as part financing to construct 210 steel bridges, the state information office said. The cabinet of ministers had given the nod to enter into the loan contract at the rate of 6.0 percent above the six months London Interbank Offered Rate, with repayment in 10 years and a two year grace period.

The loan is balance financing for a 35 million Sterling Pound deal with Cleveland Bridges UK which was concluded last year.

The bulk of the financing of 28.22 million sterling pounds will come from HSBC with a UK export credit guarantee.

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