Sri Lanka’s CAL notches up top tier debt, equity and cross border M&A deals

ECONOMYNEXT – Sri Lanka’s Capital Alliance Partners (CAL), an investment bank says it helped structure some of the largest deals in the debt, equity and cross border mergers and acquisition space in 2017.

CAL had placed 9.0 billion rupees for Sampath Bank in the country’s first Basel III compliant convertible debt issue, which was the largest debt deal in the country.

CAL was also the sole financial advisor and manager to a 2.75 billion rupee Debenture issue for Lanka ORIX Leasing Company, which was privately placed.

In December CAL had raised 753 million rupees for Jetwing Symphony Limited, selling 10 percent of the firm in an initial public offer with two cornerstone investors taking up half the stake.

Despite some investors having a negative outlook on leisure, CAL said its ability to forecast market conditions and understand the needs of the investors helped get the cornerstone investors, which boosted confidence among other investors.

CAL also advised Lanka Century Investments (LCI) PLC, on a management backed acquisition of Millennium IT’s enterprise solutions business from the London Stock Exchange Group.

A management consortium from the two firms had bought 2.7 million share of MIT for 1.08 billion rupees.

CAL’s M&A team was athe buy side advisors to Sunshine Holdings PLC which upped its stake in Estate Management Services, a plantations holding company to 60 percent from 40 percent buying out Tata Global Beverages, valuing the firm at 9.0 billion rupees.

"As a full service investment bank including equity brokering, asset management and financial advisory, CAL is uniquely positioned to offer Sri Lankan corporates the opportunity to leverage on our expertise and impeccable credentials to meet their financial objectives," Ajith Fernando, Managing Director of CAL said in statement.

"Our extensive portfolio of services encompasses every expert requirement for a successful transaction, placing us distinctly at the forefront of the industry." (Colombo/Jan12/2018)





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