Trillion lead manages Sri Lanka’s first ‘Green’ Asset Backed Securitisation

Trillion Investments Limited (Trillion), a licensed investment manager, regulated by the Securities and Exchange Commission of Sri Lanka, advised and lead managed Sri Lanka’s first “green” asset backed securitisation. Pan Asia Banking Corporation PLC (Pan Asia Bank), who is making a concerted effort to positively contribute to reducing carbon footprint in Sri Lanka, fully subscribed to the LKR 750 Million five year Issue.

Kenneth De Zilwa, Chairman of Trillion Investments Limited, stated “We are proud to have structured Sri Lanka’s first ‘green’ asset backed securitisation and enjoyed the experience of associating with Pan Asia Bank, ably led by their CEO DimanthaSeneviratne, whose dynamism is demonstrated by this bold step toward reducing carbon footprint in Sri Lanka. We look forward to working with Pan Asia Bank in the future, and we are sure Trillion will be part of many more firsts as we are working on a couple of innovative mandates.” Mr. De Zilwaalso thanked Tyrone Hannan Head – Global Transaction Banking at Deutsche Bank, NeomalGoonewardena, Partner at Nithya Partners and SampathJayawardena Director – Transaction Advisory Services, who enthusiastically worked towards the fruition of this deal.

Commenting on this venture Pan Asia Bank’s Director/CEO Mr. DimanthaSeneviratne stated that the completion of this asset backed securitisation transaction is a clear demonstration of the bank’s commitment to support green initiatives as a responsible corporate citizen and also to grow the portfolio profitably through sophisticated corporate debt instruments such as these to boost Sri Lankan debt capital market instruments.   Mr. Seneviratnefurther stated that as the bank that pioneered the Hybrid leasing and lending for solar energy solutions in Sri Lanka, Pan Asia Bank has always played a pivotal role in championing the green cause.

The Issue was lead managed by Trillion led by its CEO SampathKulatunga, Deutsche Bank acts as Trustee and Administrator to the Issue, E&Y was the financial due diligence advisor and Nithya Partners acted as Legal Counsel to the Issue.

DimanthaSeneviratne, Director/CEO, ChandrikaRanawaka, Head of Corporate Banking, Richie Dias, DGM/Head of Treasury and VaruniEgodage,Head of Legalrepresented Pan Asia Bank at the briefing, whilst Deutsche Bank was represented by Tyrone Hannan, Head – Global Transaction Banking, Nithya Partners by their Partner NeomalGoonewardena, and E&Y by their Director of Transaction Advisory Services,SampathJayawardena.

LakmaliWickramasooriya, Executive Director and SampathKulatunga Director/CEO, also represented Trillion at the media briefing.

A. I. Abdul Wahid a senior Investment professional,with extensive international exposure and experience, a former CFO – Private Equity Funds at The Abraaj Group, advised Trillion on the structure of the transaction.