Corporate Cash

Aug 11, 2010 (LBO) – Sri Lanka’s NDB Investment Bank (NDBIB) said it has raised over eight billion rupees in the capital market for corporate clients during the first half of 2010. The bank’s Corporate Advisory Division has just concluded the Initial Public Offering of PC House Limited, with the issue being oversubscribed by over four times through 13,000 applications. The funds were raised through a diversified range of debt instruments, the bank said in a statement.

NDBIB raised over four billion rupees via securitisations while the remaining funds were raised through a mix of debentures, structured loans and commercial papers.

“The dip in interest rates witnessed during the year saw many investors seek out attractive interest rates which paved the way for the placement of these investments,” the bank said.

“NDBIB is confident of maintaining its market leadership position in the capital market during the coming months with the expectation of the continuation of the low interest rate regime and the improved positive sentiment from both local and international investors towards Sri Lanka.”

NDBIB said it relies on its investor base consisting of both conventio