HSBC Arranges $100mn Export Credit from Belgium to Etisalat to Expand Network with Equipment from Alcatel Lucent

0th April 2013, www.lankabusinessonline.com

HSBC said it had arranged a 100 million US dollar export credit from Belgium for Etisalat Sri Lanka to expand its network with equipment made by Alcatel-Lucent.

"The strong partnership with HSBC, ONDD and Alcatel-Lucent will now enable us to offer the best in technology and services to our customers."

He said Etisalat became the first operator to launch DC HSPA+ technology, to boost mobile broadband service in Sri Lanka.

The bank said it was the largest such deal so far in the country.

"Etisalat is a considerable force in the telecommunication industry in Sri Lanka, and we are pleased to have led this transaction to support their expansion plans..." Nick Nicolaou, chief executive officer HSBC Sri Lanka and Maldives said.

HSBC was sole arranger, sole lender and facility agent for the facility from ONDD, the export credit agency of Belgium.

HSBC had also arranged an additional 25 million US dollar facility in parallel to the export credit.

"Etisalat strongly believes in the growth potential of Sri Lanka and we want to support the ongoing development by providing the latest in technology to the country," chief executive officer Dumindra Ratnayaka, said.

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HSBC Sri Lanka Branch Nearly Doubles Profit to Rs 8.2Bn in 2012

30th March 2013, www.sundaytimes.lk

Net profit at the HSBC’s Sri Lanka branch nearly doubled to Rs 8.2 billion in 2012 against Rs. 4.7 billion in the previous year, latest data shows.

According to a bank announcement in newspapers on Saturday, its employee count fell to 1,457 last year from 1,763 earlier though the number of branches – 16 – was unchanged.

The local branch last year announced a VRS for staff under which some employees took early retirement with compensation.

Its net interest income was up at Rs.15 billion against Rs.10.8 billion while gross loans totalled Rs.125.5 billion vs. Rs.118.5 billion in 2011.

Deposits were reported at Rs149.6 billion against Rs.141 billion in 2011.

Related Info :

• Sri Lanka's $1bn Bond to be Managed by HSBC, Bank of America & Royal Bank of Scotland

• Sri Lanka Hires HSBC, JP Morgan Chase and Royal Bank of Scotland to Sell $500 Million Bonds

• Sri Lanka May Become ‘Hong Kong of India’ After War, HSBC Says

Sri Lanka's $1bn Bond to be Managed by HSBC, Bank of America & Royal Bank of Scotland

12th August 2010, www.bloomberg.com, By Anusha Ondaatjie

Sri Lanka hired HSBC Holdings Plc, Royal Bank of Scotland Group Plc and Bank of America Corp. to manage a proposed $1 billion overseas bond sale later this year, the South Asian island’s central bank said.

The selection was made from among seven foreign lenders and investment banks that expressed their interest to manage the sale, the Central Bank of Sri Lanka said on its Web site today.

The bond sale would be subject to market conditions, the central bank said. It appointed Bank of Ceylon as co-manager to work with the lead arrangers for the issue.

Sri Lanka in July announced plans to sell the bonds, with maturities of as much as 10 years, by the end of 2010 to help refinance expensive loans. The end of the island’s three decades of civil war in May has restored investor confidence and attracted foreign flows.

HSBC, JPMorgan Chase & Co., and Royal Bank of Scotland helped arrange Sri Lanka’s last global bond sale in October that attracted bids for more than 13 times the $500 million offered.

This year’s overseas debt sale will be the third by the nation since its debut offering in October 2007.

Standard & Poor’s and Fitch Ratings raised their outlook on Sri Lanka’s debt in October last year. S&P revised it to positive from stable, and assigned the nation’s long-term foreign-currency debt rating at B, five levels below investment grade. Fitch changed the outlook to stable from negative. It affirmed Sri Lanka’s rating at B+, four levels below investment grade.

To contact the reporter on this story: Anusha Ondaatjie in Colombo, Sri Lanka at anushao@bloomberg.net

The World Spice Food Festival, Colombo’s Biggest Food Festival, Organized by Sri Lanka Tourism Development Authority (SLTDA) in November

28th October 2009, www.sltda.lk

Culinary skills of some of the world’s best master chefs will be seen at the World Spice Festival, 2009 across Colombo’s reputed hotels, restaurants and cafes flown by courtesy of Sri Lankan Airlines.

Following the success of the first Spice Festival in 2005, the Sri Lanka Tourism Development Authority and the HSBC have come together to present this year’s World Spice Food Festival incorporating a “Global Spice Food Village’ to enhance the event that will showcase the culinary expertise from around the world.

The Festival will be an ideal opportunity for tourists who are in transit or holidaying here to enjoy a variety of delectable cuisine ranging from Cuban American, Moroccan, Arabian, Italian, Spanish/Portugese, Chinese Szechuan/Cantonese, Chinese Seafood, Thai, Indonesian Balinese, Korean, Malaysian, Singapore, Japanese, Indian, Pakistan and Sri Lankan specialties.

The above Food festival Scheduled to be held from 6th - 14th November 2009, with the public event “Global Spice Food Village” to be held from 6 to 8th November 2009.

Each designated hotel and restaurant will conduct a food festival for one week with a guest chef taking you through a speciality cuisine. A number of city hotels are enthusiastically looking forward to ensure that the master chefs will be on hand to showcase culinary delights from their part of the globe.

Participating hotels, cafes and restaurants at the “Global Spice Food Village” will be Hilton Colombo, Galle Face Hotel, Galadari, Trans Asia, Cinnamon Grand, Taj Samudra, Ceylon Continental, Holday Inn, Mount Lavinia, Waters Edge, Raja Bojun, Siam House, The Mango Tree,Sizzle Grill, Regina Margharita and Nihon Bashi

Spices and condiments that are used around the world for therapeutic and taste enhancement of food will be on display under one roof to enable visitors to enlighten themselves on the intricacies in producing quality meals.

Visit Official World Spice Food Festival Website