Alpen Capital advises Seylan Bank on a long term facility worth $75 million
Seylan Bank to use the funding for business growth.
DIFC-based Alpen Capital (ME) has advised Seylan Bank, a leading private sector bank in Sri Lanka a $75 million Long Term Facility. The funding has been raised through Development Finance Institutions in Europe and financial institutions/investment companies in the Middle East and Switzerland.
The facility has been divided into three tranches. The first tranche was provided by the National Bank of Ras Al Khaimah, United Arab Emirates in November 2016. The second tranche was funded by Symbiotics, a leading investment boutique based out of Switzerland in March 2017. While the third tranche was funded by three DFIs from Europe including Deutsche Investitions- und Entwicklungsgesellschaft mbH (DEG), Germany ,OeEB, the Development Bank of Austria and OPEC Fund for International Development (OFID) of Austria in April 2017.
Seylan Bank will use the funds to support its business growth.