Ceylon FT: Sri Lanka Telecom PLC received a US$ 100 million five-year loan facility from Sampath Bank and global banking giant HSBC to upgrade its telecommunication infrastructure.
HSBC acted as Lead Arranger and together with Sampath Bank participated in raising this loan.
Patrick J. Gallagher, CEO HSBC Sri Lanka and Maldives said, "This further demonstrates HSBC's capability in structuring and arranging deals of this nature. SLT is a key name in the country and for HSBC Sri Lanka as well, and we hope this will further strengthen our relationship and steer SLT towards achieving their development objectives for the benefit of the country."
This deal stands testimony to HSBC Sri Lanka's strong track record and capabilities in syndicated debt financing and corporate banking capabilities. It also reaffirms HSBC's continued commitment to the development of the local telecommunication industry.
Aravinda Perera, Managing Director Sampath Bank PLC said, "We have always been an active partner with SLT, providing an internet payment gateway and solutions to SLT's client base, conveniences via banking channels harnessing Sampath's edge in technology. Also Sampath Bank has over the years been a partner in Syndicated financing for the SLT Group."
HSBC acted as Lead Arranger and together with Sampath Bank participated in raising this loan.
Patrick J. Gallagher, CEO HSBC Sri Lanka and Maldives said, "This further demonstrates HSBC's capability in structuring and arranging deals of this nature. SLT is a key name in the country and for HSBC Sri Lanka as well, and we hope this will further strengthen our relationship and steer SLT towards achieving their development objectives for the benefit of the country."
This deal stands testimony to HSBC Sri Lanka's strong track record and capabilities in syndicated debt financing and corporate banking capabilities. It also reaffirms HSBC's continued commitment to the development of the local telecommunication industry.
Aravinda Perera, Managing Director Sampath Bank PLC said, "We have always been an active partner with SLT, providing an internet payment gateway and solutions to SLT's client base, conveniences via banking channels harnessing Sampath's edge in technology. Also Sampath Bank has over the years been a partner in Syndicated financing for the SLT Group."
He added that "We are sure that this financing deal will further strengthen our relationship with SLT and contribute our share to the nations' stride towards development through them".
"ICT infrastructure is the backbone of any country, empowering and facilitating all other industries and businesses to function at their best. This is the highest amount raised through a foreign currency loan by SLT so far and is reflective of our commitment and plans to undertake sustainable investments during this year, to support our country's fast track development and vision to achieve a Smart Sri Lanka, through an enhanced ICT infrastructure," commented Lalith De Silva, Group Chief Executive Officer of SLT. "It is a privilege for SLT to partner with two of the leading banks in Sri Lanka, HSBC and Sampath Bank, who have placed their confidence and trust in our financial strength as well as our capabilities and agreed to support us in making our dreams for our nation a reality," he added.
The Fitch AAA (lka) rated HSBC, is the largest foreign commercial bank in the island. HSBC Sri Lanka with its global network and local reach offerscustomized client-led solutions in the corporate and investment banking businesses. Sri Lanka Telecom (SLT), an AAA (lka) rated company by Fitch Ratings, is the nation's number one integrated ICT solutions provider and the leading backbone infrastructure services provider. The company is also the major provider of telecommunication networks and services for top enterprises representing all economic sectors and facilitating them with seamless and sophisticated connectivity to carry out local and global business operations. SLT group provides a full range of ICT facilities and services in the areas of voice, data, broadband, wholesale, enterprise, TV and mobile services.
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"ICT infrastructure is the backbone of any country, empowering and facilitating all other industries and businesses to function at their best. This is the highest amount raised through a foreign currency loan by SLT so far and is reflective of our commitment and plans to undertake sustainable investments during this year, to support our country's fast track development and vision to achieve a Smart Sri Lanka, through an enhanced ICT infrastructure," commented Lalith De Silva, Group Chief Executive Officer of SLT. "It is a privilege for SLT to partner with two of the leading banks in Sri Lanka, HSBC and Sampath Bank, who have placed their confidence and trust in our financial strength as well as our capabilities and agreed to support us in making our dreams for our nation a reality," he added.
The Fitch AAA (lka) rated HSBC, is the largest foreign commercial bank in the island. HSBC Sri Lanka with its global network and local reach offerscustomized client-led solutions in the corporate and investment banking businesses. Sri Lanka Telecom (SLT), an AAA (lka) rated company by Fitch Ratings, is the nation's number one integrated ICT solutions provider and the leading backbone infrastructure services provider. The company is also the major provider of telecommunication networks and services for top enterprises representing all economic sectors and facilitating them with seamless and sophisticated connectivity to carry out local and global business operations. SLT group provides a full range of ICT facilities and services in the areas of voice, data, broadband, wholesale, enterprise, TV and mobile services.
www.ceylontoday.lk
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