Alpen Capital (ME) Limited, an investment banking advisory firm, also based in the UAE acted as the sole financial advisor to the transaction.
Seylan Bank will utilise the funds for general business development and portfolio growth in its Foreign Currency Banking Unit (FBCU).
The USD 15 million 5 year loan facilities was signed in Dubai, UAE on November 27, 2016 in the presence of Kapila Ariyaratne (Director/CEO - Seylan Bank), Ramesh Jayasekara (Chief Risk Officer- Seylan Bank), Peter England (CEO - Rakbank ), Rohit Walia (Executive Chairman - Alpen Capital) and other senior management members from all parties involved.
Rakbank CEO Peter England said they are pleased to have partnered with Seylan Bank to support their general expansion plan of the Foreign Currency Banking Unit. “This long term financing allows us to diversify our asset book into various geographies while introducing Seylan Bank to the region,”he said.
Seylan Bank Chief Executive Officer Kapila Ariyaratne said: “We are extremely pleased to sign up on this partnership as the Bank’s first long term financial agreement with the Middle East market, which reflects strong in investor confidence in Seylan Bank’s operations and future growth potential.”
Rakbank, also known as the National Bank of Ras Al Khaimah, is one of the UAE’s oldest and most dynamic financial institutions.
Seylan Bank will utilise the funds for general business development and portfolio growth in its Foreign Currency Banking Unit (FBCU).
The USD 15 million 5 year loan facilities was signed in Dubai, UAE on November 27, 2016 in the presence of Kapila Ariyaratne (Director/CEO - Seylan Bank), Ramesh Jayasekara (Chief Risk Officer- Seylan Bank), Peter England (CEO - Rakbank ), Rohit Walia (Executive Chairman - Alpen Capital) and other senior management members from all parties involved.
Rakbank CEO Peter England said they are pleased to have partnered with Seylan Bank to support their general expansion plan of the Foreign Currency Banking Unit. “This long term financing allows us to diversify our asset book into various geographies while introducing Seylan Bank to the region,”he said.
Seylan Bank Chief Executive Officer Kapila Ariyaratne said: “We are extremely pleased to sign up on this partnership as the Bank’s first long term financial agreement with the Middle East market, which reflects strong in investor confidence in Seylan Bank’s operations and future growth potential.”
Rakbank, also known as the National Bank of Ras Al Khaimah, is one of the UAE’s oldest and most dynamic financial institutions.
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