Active Mixed AidData Chinese Aid

China Development Bank provides $50 million loan in 2012 to Hatton National Bank for on-lending activities (Linked to Record ID#33414)

$50M USD

Funder	China Development Bank (CDB)
Recipient Organization	Hatton National Bank PLC (HNB)
Country	Sri Lanka
Start Date	Mar 28, 2012
End Date	Apr 01, 2032
Duration	7,309 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`33397`

Grant Description

China Development Bank provides $50 million loan in 2012 to Hatton National Bank for on-lending activities On March 28, 2012, China Development Bank issued a $50 million loan to Hatton National Bank for trade-related, long-term project financing activities (via on-lending). The agreement was signed by Chairperson Dr.

Ranee Jayamaha and Managing Director/CEO Rajendra Theagarajah on behalf of Hatton National Bank PLC and Deputy General Manager Guangxi Branch Wei Peng on behalf of China Development Bank Corporation. The maturity length of the loan was 5-years.

📋 Loan / Grant Terms

💰 Loan Amountare unknown

Then, in June 2013, China Development Bank issued a $49 million loan to Hatton National Bank for trade-related, long-term project financing activities (via on-lending). The agreement was signed by Dr. Ranee Jayamaha, Chairperson of Hatton National Bank PLC and Mr. Bai Yingfu, general manager of CDB’s Guangxi branch.

The maturity length of the loan was 5-years.

📋 Loan / Grant Terms

💰 Loan Amountare unknown

The 2012 CDB loan is captured via Record ID#33414. The 2013 CDB loan is captured via Record ID#33414.

📋 Staff Comments

1. Hatton National Bank PLC is a private bank in Sri Lanka with 251 branches and 563 ATMs. It is the fifth largest company by market capitalization (FY2014: 11th ranked) on the Colombo Stock Exchange (SLRs116.5 billion). It is considered a systemically important bank in Sri Lanka.

📚 Sources & References

HNB raises US$ 50 m overseas loan
HNB Issue of 20,000,000 Senior
Listed
Unsecured
AA- Rated
Redeemable
Ten year (2013/2023) Debentures of LKR 100 each
HNB Annual Report 2013
ADB Extended Annual Review Report
HNB raises $ 50 m from Chinese Development Bank
Foreign Credit Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.