STF Corporate Advisory secured a $15 million loan from the United States International Development Finance Corporation (US DFC), the US development finance institution and US federal government agency, for BPPL Holdings based at Colombo Stock Exchange. APIs.
BPPL Holdings PLC is one of the Environmental, Social and Governance (ESG) compliant companies in Sri Lanka. BPPL collects plastic bottle waste, which would otherwise end up polluting the oceans, and turns it into recycled polyester, which is in turn used by international sportswear brands such as Nike and Decathlon. The Sri Lankan company was also recently ranked by the prestigious Forbes Asia, among the top 200 companies in Asia with a turnover of less than a billion dollars in 2021.
“We saw BPPL as a hidden gem in Sri Lanka, an icon of an ESG business and a very well run company quietly doing a lot of good for the environment while contributing much needed dollars to the Sri Lankan economy by exporting the recycled polyester yarn. We wanted to contribute to the growth of the company and took on the mandate of finding and obtaining the capital financing necessary for its growth. We are pleased to have helped BPPL finally secure a US$15 million loan commitment from US DFC despite the very difficult dollar crisis environment in Sri Lanka. said Managing Director, STF Corporate Advisory, Sanjana T. Fernando.
Managing Director and Chief Executive Officer of BPPL Holdings PLC, Dr Anush Amarasinghe said: “STF Corporate Advisory came to us about a year ago with several ideas and strategies on raising capital for the growth of our company. .
We have been very impressed with their ability to very quickly bring a considerable number of leading international investors and lenders to the negotiating table, including equity investors backed by sovereign wealth funds and several development finance companies backed by international governments.
“STF understands the importance of the cost of capital to business and has always worked in the best long-term interest of the business. They negotiated and executed the transaction very professionally. We are delighted that STF advised us on this transaction in these very difficult times, where international experience, ability to execute and achieve are essential for a good debt adviser,” he said.
The DFC loan has a 10-year term with a three-year grace period and is subject to regulatory approvals.
STF Corporate Advisory is a Melbourne-based investment banking advisory firm focused on advising Sri Lanka-based listed companies, primarily on mergers and acquisitions and raising capital and equity.
In the past, STF Corporate Advisory has worked with several conglomerates listed in Sri Lanka, including John Keells Holdings, Hayleys, LOLC Holdings and Browns Investments. Most recently, he researched and advised LOLC Holding’s Browns Investments in a $30 million fundraising round from Spanish hospitality giant Barcelo Hotel Group.