NDBIB raises a record Rs. 60b in 2015

From left: CEO DarshanPerera, Chief Operating Officer Kaushini Laksumanage, Vice President – Debt and Equity Distribution Avanthi Dissanayake and Assistant Vice President – Corporate Advisory Nilendra Weerasinghe

NDB Investment Bank (NDBIB), Sri Lanka’s premier investment bank, raised a mammoth Rs. 60 b in debt and equity capital for its valued clients during the year 2015. This is an all-time high for NDBIB surpassing the previous high of Rs. 42 b achieved in 2013. NDBIB’s stellar performance amidst volatile market conditions provides ample testimony to its prowess and leadership in both debt and equity capital markets in Sri Lanka.

Commenting on the successful year, NDBIBCEO Darshan Perera stated: “The record performance of NDBIB in 2015 is a direct result of the strength and quality of the team that has been built over the years. NDBIB is proud to have set the benchmark in investment banking in the country and will continue to improve capabilities to better serve our clients.”

Heightened level of activity in the debt capital markets were a significant catalyst to NDBIB’s performance, particularly in the listed corporate debenture space where NDBIB recorded a 55% market share raising over Rs. 46 b in 2015. 

NDBIB also acted as financial advisor and arranger to a syndicated loan facility to finance a luxury resort project in the Maldives amongst its other debt raising initiatives. Furthermore, Resus Energy undertook an exercise to restructure its balance sheet in order to unlock shareholder value via a leveraging and share repurchase exercise utilising NDBIB’s advisory expertise. 

NDBIB also acted as a joint manager to the largest IPO to be carried out on the CSE in 2015 raising Rs. 750 m for People’s Insurance with healthy levels of investor appetite. Performance was also boosted by activities in the M&A space where NDBIB advised on two transactions valued at approximately $ 33 m.

NDBIBCOO Kaushini Laksumanage said: “Year 2015 has been a volatile one and we’re proud about being able to successfully raise record levels of capital for our clients. We have worked diligently and very closely with our clients to capture the most optimum market window to execute transactions amidst all the volatility.”

NDBIB is the first and the only investment bank in Sri Lanka to have been awarded ‘Best Investment Bank in Sri Lanka’ by the prestigious Euromoney Magazine. This award was bestowed for the fourth consecutive year since 2012 amongst a multitude of other awards indicating NDBIB’s market leadership position in the debt and equity capital markets of Sri Lanka. 

NDBIB maintaining its quest for innovation structured and successfully executed both the first and second listed debenture for the construction and engineering sector of the Colombo Stock Exchange. These transactions provided an ideal opportunity for portfolio diversification for fixed income investors and were well received in the market. Furthermore, NDBIB was instrumental in structuring debt instruments with interest rate caps, floors and zero coupon features to meet the varying needs of both issuers and investors alike.

NDBIB continued to maintain strong focus on nurturing its employees and attracting and retaining the best talent within the industry. The company followed its stringent recruitment process complemented by strong focus on on-the-job training and sustained the continuous skill development initiatives undertaken. 

Furthermore, the corporate culture at NDBIB is driven by the highest ethical standards with honesty and integrity as its hallmarks. It adheres to strict compliance and ethical guidelines, including CFA Code of Conduct, an internal policy framework for compliance and industry best practices. NDBIB expects to continue its growth trajectory in 2016 supported by a strong deal pipeline in both equity and debt capital markets and its highly motivated team.