STF Corporate Advisory has successfully sourced and secured a US$ 15 million loan from the Washington-based United States International Development Finance Corporation (USDFC)
STF Corporate Advisory has successfully sourced and secured a US$ 15 million loan from the Washington-based United States International Development Finance Corporation (US DFC), America’s development finance institution and agency of the United States federal government, for the Colombo Stock Exchange-listed company BPPL Holdings PLC in Sri Lanka.
BPPL Holdings PLC is a leading Environmental, Social, and Governance (ESG) compliant company in Sri Lanka.
BPPL collects waste plastic bottles that would otherwise pollute the oceans and convert them into recycled polyester, which is then used by international sportswear brands like Nike and Decathlon.
The Sri Lankan firm was also recently named by Forbes Asia as one of the top 200 companies in Asia with less than $1 billion in revenue.
“We saw BPPL as a hidden gem in Sri Lanka, an icon of an ESG Company and a very well-run business quietly doing a lot of good for the environment while also bringing in much-needed dollars into the Sri Lankan economy through the export of recycled polyester yarn.”
We wanted to help the company grow, so we took on the task of sourcing and securing the capital needed for expansion.
We are pleased to have assisted BPPL in obtaining a US$ 15 million loan commitment from US DFC despite the extremely difficult dollar-crunch crisis environment in Sri Lanka.”
Sanjana T. Fernando, Managing Director of STF Corporate Advisory, stated
“STF Corporate Advisory approached us about a year ago with several capital-raising ideas and strategies for our company’s growth.”
We were very impressed with their ability to quickly bring together a large number of high-profile international investors and lenders, including sovereign wealth funds and several International Government-backed Development Finance Corporations.
STF recognized the importance of the Company’s cost of capital and always worked in the best long-term interests of the Company.
They negotiated and carried out the transaction with utmost professionalism.
We are grateful to STF for advising us on this transaction during these difficult times, when international experience, execution, and completion ability are critical for a good debt advisor.” Dr. Anush Amarasinghe, Managing Director and Chief Executive Officer of BPPL Holdings PLC, stated DFC’s loan has a 10-year term with a three-year grace period and is subject to regulatory approval.
Sanjana T. Fernando leads STF Corporate Advisory, a Melbourne-based Investment Banking Advisory firm that focuses on advising Sri Lankan-based listed companies on M&A and debt and equity capital raising.
STF Corporate Advisory has previously worked with a number of Sri Lankan-listed conglomerates, including John Keells Holdings, Hayleys, LOLC Holdings, and Browns Investments.
Recently, it sourced and advised LOLC Holding’s Browns Investments on a US$ 30 million equity investment from Spanish hospitality giant Barcelo Hotel Group.