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Raises Rs. 150 Mn.

Dec 24, 2010 2:08:55 PM - thesundayleader.lk

Vallibel Finance PLC (VFIN), a registered finance company raised Rs. 150 mn. through its initial lease and hire purchase securitisation.
The facility was placed amongst institutional investors. Deutsche Bank AG Colombo Branch is the trustee to the issue while NDB Investment Bank Ltd. (NDBIB) was the structuring and placement agent to the issue.
VFIN, a Vallibel Investments (Pvt.) Ltd. subsidiary holds a 72.87% Share Capital stake in VFIN. The Company obtained a Colombo Stock Exchange listing this year (2010).
VFIN is primarily engaged in accepting public deposits, granting leasing facilities, hire purchase, mortgage loans and other credit facilities and related services in the finance business. VFIN operates through a branch network in Maharagama, Aluthgama, Minuwangoda and Kandy, with three more branches to be opened in line with its expansion drive.
The company is promoted and backed by the leadership of a distinguished board comprising some of the most successful business personalities in the country; ie Dhammika Perera (Chairman) and Jayantha Rangamuwa (Managing Director). Other formidable Board members include Sumith Adhihetty (LB Finance & The Fortress Managing Director), Nimal Perera (PABC Bank Deputy Chairman and Royal Ceramics Managing Director),  Sena Senaratne (Amaya Resorts and Spas Director), Mangala Gunatilake (LB Finance & Douglas & Sons director) and  Harendra Perera (Vallibel Holdings director).