NDBIB records noteworthy performance in 2014

NDB Investment Bank (NDBIB) recorded a successful year during 2014, reaping dividends of the Group’s full-service investment banking model.

The unique combination of investment banking, wealth management and stock brokering services with the newly introduced private equity arm which are all organised under NDB Capital Holdings (NCAP), has enabled NDBIB to maintain market leadership and enhance its service offering in the capital markets.

NDBIB was recognised for its superior performance in the capital markets having been acclaimed as the ‘Best Investment Bank in Sri Lanka’ by several financial institutions and magazines including Euromoney, World Finance and International Finance.

CEO, NCAP, Vajira Kulatilaka said, “Two thousand and fourteen stands out as a year where we demonstrate the power of the full service investment banking model in the country”.

“As a Group, we are almost at Rs. 100 billion in assets under management. I believe that the Group can unleash its full potential in the coming years with a compelling service offering and the expertise within our teams for the benefit of clients”.

The acquisition of Hemas Power (later renamed as Resus Energy) was a case in point where the full service investment banking model was brought to fruition. NDBIB advised the management of Resus Energy in putting together a consortium to acquire the renewable energy assets under the company while NCAP was an equity partner.

NDBIB arranged requisite debt financing to some of the equity partners in the consortium including the management team.

The transaction was successfully closed with smooth execution by the NDB Securities team while NDBIB continued advising the client as manager to the ensuing Mandatory Offer.

CEO, NDBIB, Darshan Perera said, “We raised almost Rs.25 billion on behalf of clients through debt, equity and hybrid securities.

We also introduced innovative transactions and structures to the market leveraging our expertise and group strengths to add value to clients”.

NDBIB was involved in a landmark cross-border loan syndication with NDB Capital in Bangladesh, raising approximately US $ 50 million from Sri Lankan and Bangladeshi financial institutions.

The funds were raised to finance the construction of a 52MW dual fuel power project in Bangladesh where the project sponsor was Lakdhanavi Limited, the premier company in the power and energy sector in Sri Lanka.

NDBIB also ventured into Islamic Banking through the structuring and placing of a Wakala Islamic Banking Facility for a company in the power and energy sector. NDBIB has spearheaded the debt capital markets in Sri Lanka having raised the largest sum of money amounting to approximately Rs. 37 billion since the introduction of tax concessions for debentures listed on the CSE in 2013.