Dollar Finance

Sumith Arangala, Chief Executive Officer, LVL Energy Fund (left) handing over the agreement to Nanda Fernando, Managing Director, Sampath Bank

Aug 09, 2013 (LBO) – Sri Lanka’s Dialog Axiata, the country’s largest mobile operator said it had raised 200 million US dollars from a syndicated loan. The 5-year loan had been arranged by OCBC Bank Malaysia Berhard and Standard Chartered Bank, Dialog said in a statement.

The fund will be used for capital expenditure, working capital and settle existing debt, the company said.

Dialog is a top foreign investor in Sri Lanka and it announced a 150 million US dollar expansion in broadband and fibre optics infrastructure, taking total investments in the island so far to 1.5 billion US dollars.