NDBIB extends leadership across all product verticals in 2017

• Rs. 55b worth M&A, capital raisingand other advisory transactions during the year

 Maintaining its undisputed leadership position as the best investment bank in Sri Lanka, NDB Investment Bank (NDBIB) continued its exceptional performancein2017 with a greater level of activity across all product segments including M&A advisory and equity and debt capital markets. NDBIB added many momentous,landmark transactions to its repertoire,including being the first Sri Lankan investment bank to manage an overseas IPO, the largest equity fund raising in the Maldives to date. NDBIBtogether with NDB Capital Bangladesh, also conducted the largest ever pharmaceutical sector M&A in Bangladesh and in NDBIB’s endless strive for innovative capital market products, introduced the Cornerstone Tranche to IPOs and opened the regulatory capital market for Basel III bonds in Sri Lanka.

During the year, NDBIB successfully executed over 40distincttransactions amounting to over 

Rs. 55billionfor its diverse clientele spread across Sri Lanka, Maldives and Bangladesh. The numerous transactions executed by NDBIB include four M&A transactions valued at Rs. 14 billion, four Equity Capital Market transactions raising Rs. 9 billion and numerous debt raising and other advisory transactions valued at Rs 32 billion. 

NDB Investment Banking Cluster CEO Vajira Kulatilaka, commenting on NDBIB’s successful year, stated: “Our vision was to leverage on our market leadership in Sri Lanka and play a meaningful role in the region. 2017 has been a year where we executed landmark transactions in the Maldives and Bangladesh in addition to Sri Lanka, taking us closer to achieving our vision. Further, the efforts portrayed by our team this year to pioneer numerous innovative capital market products across all product segments arecommendable, and havesupported NDBIB to maintain its position as the unparalleled market leader for investment banking in Sri Lanka catering to our discerning clientele.”

The M&A space witnessed heightened levels of activity during 2017 with NDBIB’s leadership in this vertical, characterised by the active involvement in the largest ever pharma sector M&A transaction in Bangladesh, Dialog AxiataPLC’s acquisition of Colombo Trust FinancePLC, a licensed finance company, the divestiture of specialty fertiliser manufacturer Unipower to CIC HoldingsPLC, and 

RIL PropertyPLC’s acquisition of United Motors LankaPLC.

NDBIB CEO Darshan Perera, commenting on these achievements, stated: “Last year was anexceptionalone for NDBIB, as we have been able to execute an array of landmark transactions and innovate in all product verticals. The number of transactions executed and transaction values signifies our market leadership position and the depth of knowledge and expertise of NDBIB’s team. I am proud of our resounding success over the years and the effort put forward by our team to maintain NDBIB’s position as the preferred partner for investment banking in Sri Lanka.”

The Equity Capital Markets segment witnessed the execution of two landmark IPOs.The IPO of Ooredoo Maldives PLC, the largest equity fund raising in the Maldives, was awarded to NDBIB via a competitive international bidding process involving numerous regional investment banks. Through this IPO, NDBIB created history by being the first Sri Lankan investment bank to have advised on an IPO on foreign soil. This IPO propelled NDBIB to an unrivalled, position having executed four out of the five largest IPOs ever conducted by a Sri Lankan investment bank. The IPO of RIL Property PLC witnessed the introduction of a formal Cornerstone Tranche for IPOs on the CSEwith structures in line with best practices in Hong Kong and Singapore. Other transactions in this space included a hybrid equity raising for SDB Bank PLC from a consortium of foreign investors and the Rights Issue of Singer Finance PLC.

The Debt Capital Markets team diversified its product range raising over Rs. 18 billionwith a healthy mix of listed and unlisted debentures, structured debt products, syndicated loans both locally and overseas, asset-backed securitisations, term loans and commercial paper. The achievements of NDBIB included the Tier 2 capital debenture of Sampath Bank PLC, the maiden Basel III compliant bond in Sri Lanka, which openedan additional avenue in the market forraisingregulatory capital in 

Sri Lanka,and managing the first listed debentureafter the newInland RevenueAct for Siyapatha Finance PLC.

NDBIB was also active in a diverse spread ofadvisory transactions which included many balance sheet and group restructuring assignments both in the listed and unlisted sphere, structuring of employee share ownership schemesand other financial feasibility and valuation assignments.

In 2017, NDBIB was crowned ‘Sri Lanka’s Best Investment Bank’ for the sixth consecutive year by the prestigious Euromoney Magazine maintaining its resilient position as the first and only investment bank in Sri Lanka to achieve this award.NDBIB also added to its long list of awards and accolades by winning several other awards such as ‘Best Corporate and Investment Bank, Sri Lanka 2017’ by Asiamoney, ‘Best Investment Bank in Sri Lanka 2017’ by Finance Asia and ‘Most Trusted Investment Banking Brand, Sri Lanka 2017’ by Global Brands Magazine to establish its unbeaten position as the market leader for investment banking in Sri Lanka.