Foreign Cash

April 01, 2013 (LBO) – Sri Lanka’s DFCC Bank has raised 45 million US dollars in a loan syndicated among Middle Eastern and Asian banks, lead arranger HSBC said. “DFCC’s success in this debut international loan syndication…demonstrates the strong level of confidence placed in the Bank and on the positive growth outlook for the country by international investors,” chief executive Nihal Fonseka said in a statement.

HSBC said the bank went to the market for 25 million US dollars but the loan was increased to 45 million US dollars due to strong interest.

“The success of this debut international loan syndication underlines HSBC’s approach to maintaining strong and lasting relationships with our core banks, and the ability in closing large financial deals,” Chamira Wijetilleke, head of corporate banking at HSBC said.

DFCC group has assets of 130 billion rupees (over a billion US dollars).