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29
Nov

Seylan leads rs. 1bn. syndicated loan in partnership with dfcc to fund ariyana project

RS. 1 BN. SYNDICATED FINANCING FOR HOME LANDS SKYLINE (PVT) LTD ARRANGED BY SEYLAN BANK PLC IN PARTNERSHIP WITH DFCC BANK PLC.

SYNDICATED LOAN TO FUND ARIYANA RESORT APARTMENT COMPLEX – HOME LANDS SKYLINE’S ULTRA-MODERN RESIDENTIAL SOLUTION AND SRI LANKA’S 1ST EVER RESORT APARTMENT CONCEPT, SCHEDULED TO SPREAD THRU 11 ACRES OVER A SOOTHING RESORT SETTING IN ATHURUGIRIYA.

TO BE COMPLETED IN 2020, THE PROJECT TO ACCOMMODATE MORE THAN 50 INBUILT AMENITIES AND TO PROVIDE AMPLE ACCESS TO ITS RECREATIONAL AREA, WHERE DEVELOPER PRESERVES 80% OF THE TOTAL PROJECT EXTENT AS RECREATIONAL AREA BY ONLY UTILIZING 20% FOR CONSTRUCTION.

Seylan Bank PLC has arranged a syndicated credit facility of Rs. 1 Bn. to Home Lands Skyline (Pvt) Ltd – a leading real estate developer in Sri Lanka. Seylan Bank PLC as the major lending party for the Syndicated Loan Agreement is partaking the financing with DFCC Bank PLC. Home Lands Skyline expects to fuse the loan capital to gear-up the accelerated construction of their recently launched project and Sri Lanka’s 1st ever Resort Apartment Complex – Ariyana Resort Apartment Complex. ARIYANA is an apt residential solution supposed to hinge several long prevailed gaps in the domestic residential real estate market. In this most opportune era in Sri Lankan economy, this syndicated lending extended by Seylan Bank PLC together with DFCC Bank PLC as the financiers could be defined as a favourable turn towards the advancement of the flourishing Sri Lankan real estate sector. The Syndicated Loan Agreement by Home Lands Skyline (Pvt) Ltd, between Seylan Bank PLC and DFCC Bank PLC was recently signed at the Seylan Bank Head Quarters, with the participation of the higher management of the company and the senior officials representing the two Banks.

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