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NDBIB arranges Rs. 1.0 bn for Resus Energy Group

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Melissa Pereira


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics

NDB Investment Bank Limited (NDBIB)continued to establish itself as a leader in the investment banking space by providing corporate advisory services especially with regard to structuring M&A transactions which includeManagement Buy Outs (MBOs) and raising debt via capital markets in Sri Lanka.
As part of the capital restructuring process to unlock shareholder value, the subsidiaries of Resus Energy PLC (REP) (formerly known as Hemas Power PLC) raised over Rs. 1.0 billion via a syndicated debt facility with the participation of National Development Bank and Sampath Bank. NDBIB played a key role in this transaction as financial advisor and arranger for the debt facility and has been in the forefront in the restructuring process of REP group.
In late 2014, NDBIB facilitated the acquisition of 75% of Resus Energy PLC from Hemas Holdings PLC, by putting together a consortium of equity investors, viz; NDB Capital Holdings Limited, ACL Cables PLC and Trydan Partners (Private) Limited (i.e. the management team), which amounted to overRs. 1.7 billion.
As the final stage of the said restructuring process, the directors and the shareholders of REP have approved a share repurchase at Rs. 24 per share, which has already been announced to the Colombo Stock Exchange.
In addition to its corporate advisory services, NDBIB has been active and enjoy leadership position in the local debenture market having already raised over Rs. 17.0 billion for clients of various sectors via the capital markets in Sri Lanka.
NDBIB is a fully owned subsidiary of NDB Capital Holdings Limited, which in turn is a 99.66% owned subsidiary of National Development Bank PLC.Euromoney, the world’s premier financial markets magazine, adjudged NDBIB as the ‘Best Investment Bank in Sri Lanka’ at the recent Awards for Excellence 2015 for the fourth consecutive year. (NDBIB)
Courtesy: The Island 8 September 2015 

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