NDBIB arranges Rs. 1 bln for Resus Energy Group
View(s):As part of the capital restructuring process to unlock shareholder value, the subsidiaries of Resus Energy PLC (REP) (formerly known as Hemas Power PLC) raised over Rs. 1 billion via a syndicated debt facility with the participation of National Developmet Bank and Sampath Bank.
NDB Investment Bank Ltd (NDBIB), in a media release, said it played a key role in this transaction as financial advisor and arranger for the debt facility and has been in the forefront in the restructuring process of the REP group. In late 2014, NDBIB facilitated the acquisition of 75 per cent of Resus Energy PLC from Hemas Holdings PLC, by putting together a consortium of equity investors, viz; NDB Capital Holdings Ltd, ACL Cables PLC and Trydan Partners (Private) Ltd (i.e. the management team), which amounted to over Rs. 1.7 billion.
As the final stage of the said restructuring process, the Directors and the Shareholders of REP have approved a share repurchase at Rs. 24 per share, which has already been announced to the Colombo Stock Exchange, the release said.