NDB raises $ 50m

NDB concluded its debut international loan syndication for $ 50m. NDB became the first bank to break the 12 month tenor and price into an 18 month facility.

The transaction attracted interest from a number of Middle Eastern and Asian Banks. HSBC acted as the Lead Arranger and Bookrunner.

“NDB’s success in its debut international loan syndication demonstrates the confidence placed by the international financial community on the bank’s strong fundamentals, its standing in the local banking industry and the positive growth outlook of the country,” said Chief Executive Officer, Russell De Mel.

“Despite the current global financial uncertainties, the offering drew strong international support. This facility also paves the way to tap new investors and funding partners and reinforces NDB’s acceptance among a wide network of international investors for its future dealings,” a spokesman for the Bank said.