Top Dog

Jan 09, 2007 (LBO) – NDB Investment Bank (NDBIB) said it had helped mobilize 30 billion rupees in debt and equity from Sri Lanka’s capital markets in 2007 through some of the largest deals in the financial history of the island. NDBIB says it had been mandated by several firms to take them public. NDB says the deals are “spread across diversified sectors of the economy” and was hoping to bring them to the market in the “near future”. NDBIB was the financial advisor to a 15.5 billion rupees rights issue of Dialog Telekom PLC, which was the largest ever equity raising on the Colombo stock exchange.

It also raised another five billion rupees for the telco through privately placed redeemable preference shares from local and foreign banks. NDBIB says it was the largest ever preference share issuance in Sri Lanka.

NDBIB says the deals were completed “in a difficult environment particularly in the equity market.”

NDBIB chief Vajira Kulatilaka says the company is hoping to introduce new products to the market with new features especially in securitisation.

NDBIB’s debt unit raised over 9 billion rupees last year through asset backed securities, debentures, structured loans and commercial paper.

“Some of the