Editorial

Security

Politics

World

Letters

Sports

Obituaries

Archives

Mercantile Leasing Limited (MLL) recently coalesced with People's Merchant Bank Limited (PMBL) to successfully raise Rs. 200 million in long-term funds.

MLL issued asset-backed debentures to the value of Rs. 200 million, which was the initial tranche of a total issue of Rs. 500 million. These instruments were structured and placed by PMBL which is also the trustee to the issue. The first tranche was taken entirely by Hatton National Bank Limited, a key shareholder of PMBL.

These debentures have been structured to provide MLL with a hedge against exposure to liquidity mismatches and interest rate fluctuations in the external environment. MLL will look to utilise these funds to further augment its long-term fund base. MLL is a subsidiary of the National Development Bank. PMBL is a leading investment and merchant bank which has featured prominently in several key debt placements that took place recently.

Key shareholders of PMBL include People's Bank, Hatton National Bank, DFCC Bank and Acceptor Business Capital (Sri Lanka) Limited.

News | Business | Features | Editorial | Security
Politics | World | Letters | Sports | Obituaries

Produced by Lake House
Copyright 2001 The Associated Newspapers of Ceylon Ltd.
Comments and suggestions to :Web Manager