STF Corporate Advisory successfully secured a US $15 million loan from BPPL Holdings PLC, a listed company on the Colombo Stock Exchange in Sri Lanka, from the United States Development Finance Agency and the Washington-based United States International Development Finance Corporation (USDFC), a US federal agency.
BPPL Holdings PLC is one of Sri Lanka’s leading environmental, social, and governance (ESG) compliant companies. BPPL collects waste plastic bottles, thereby reducing marine pollution and converting them into recycled polyester. After being recycled, it is used by international sports brands such as Nike and Decathlon. The Sri Lankan company was recently ranked by Forbes Asia as one of the top 200 companies in Asia with a revenue of US $1 billion in 2021.
“We see BPPL as a hidden gem in Sri Lanka, an icon of the ESG Company, a well-run business, quietly doing much good for the environment and exporting recycled polyester yarn to bring in the dollars needed for the Sri Lankan economy. We wanted to help the business grow and we had the resources and resources to secure the capital needed for its growth.We are pleased to finally assist BPPL to obtain a $ 15 million loan from USDFC, despite the crisis in Sri Lanka, ”STF Corporate Advisory Managing Director MR.Sanjana T. Fernando said.
“STF Corporate Consulting came to us about a year ago with some ideas and strategies for raising capital for our company’s growth. We are pleased with their ability to bring a significant number of top international investors and lenders to the negotiating table as soon as possible, including sovereign capital-sponsored equity investors and several international government-sponsored development finance corporations.STF realized the importance of capital costs to the company and always worked for the best long-term needs of the company. They negotiated and executed the transaction in a very professional manner. We are pleased to have STF advise us on this transaction during these challenging times, when a good credit advisor will have the international experience, execution and completion capability, ”Managing Director and CEO, BPPL Holdings PLC. Dr. Anush Amarasinghe, said.
Loans provided by DFC have a tenure of 10 years with a grace period of 3 years and are subject to regulatory approval.
Sanjana T. Fernando-led STF Corporate Consulting is a Melbourne-based investment banking consulting firm focused primarily on M&A and advice on debt and equity capital accumulation for Sri Lanka-based listed companies.In the past, STF Corporate Consulting has worked with several listed companies in Sri Lanka, including John Keells Holdings, Hayleys, LOLC Holdings and Browns Investments. Most recently, it instructed LOLC Holdings Browns Investments to raise $ 30 million in shares from the Spanish Hospitality Giant Barcelo Hotel Group.