Sampath Bank concludes landmark Rs.750 mn structuring and investing in LVL Energy Fund PLC’s Unlisted Corpora

We were highly impressed with the manner in which the officials of Sampath Bank PLC evaluated the proposal with interests of our shareholders foremost in their minds

Sampath Bank PLC announced that it had recently concluded the structuring and investment of an unquoted, secured, non-convertible, deep-discounted bond issuance for LVL Energy Fund PLC.

The Rs. 750 million instrument was tailor- made by Sampath Bank’s Corporate Finance Unit to suit the unique characteristics and financing needs of LVL Energy Fund PLC. Sampath Bank was the sole investor in this private placement with special approvals from the Securities and Exchange Commission (SEC).

Commenting on the partnership, Sumith Arangala, Chief Executive Officer, LVL Energy Fund PLC, said, “We were highly impressed with the manner in which the officials of Sampath Bank PLC evaluated the proposal with interests of our shareholders foremost in their minds. Apart from the deep discount bond being an innovative financial instrument vis- a- vis the local banking sector, it resulted in a win- win outcome to both entities with absolute convergence of interests.”

“As a responsible financial services provider, we have always strived to support green initiatives, especially in the renewable energy sector, right from our inception. In line with this, it has been our privilege to partner with LVL Energy Fund PLC on their recent bond issuance,” said Nanda Fernando, Managing Director, Sampath Bank PLC. “We remain committed to supporting consumers and businesses around the island and delivering greater value to the nation, as we continue to present the future.”