Sri Lanka’s ODEL raises Rs5.4bn loan for mall

ECONOMYNEXT – ODEL Plc, said had raised reached a deal with three banks to raise 5.4 billion rupees to build a mall in Sri Lanka’s capital Colombo.

The building will be constructed by Odel Properties One (Pvt) Ltd, a fully owned subsdiary of ODEL the firm said in a stock exchange filing.

Hatton National Bank, Sampath Bank and the Bank of Ceylon has each committed 1.8 billion rupees for the syndicated loan.

The stock closed 24.10 rupees, unchanged. (Colombo/June12/2018)

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