BPPL Holdings gets US$ 15 mn loan from US-based DFC

STF Corporate Advisory has successfully managed to source and secures a US$ 15-Million-dollar loan from Washington based United States International Development Finance Corporation (US DFC), America’s development finance institution and agency of the United States federal government, for Sri Lanka based Colombo Stock Exchange-listed company BPPL Holdings PLC.

BPPL Holdings PLC is one of Sri Lanka’s leading Environmental, Social and Governance (ESG) compliant companies. BPPL collects waste plastic bottles, which would otherwise end up polluting the oceans, and convert them to recycled polyester, which is in turn used by international sportswear brands such as Nike and Decathlon.

“We saw BPPL as a hidden gem in Sri Lanka, an icon of an ESG Company and a very well-run business silently doing a lot of good for the environment while also bringing in much-needed dollars into the Sri Lankan economy by exporting the recycled polyester yarn. We wanted to help grow the business and took on the mandate to source and secure the capital funding required for its growth. We are glad to have helped BPPL finally secure a commitment of US$ 15 Million loans from US DFC despite the very challenging dollar-crunch crisis environment in Sri Lanka.” said STF Corporate Advisory Managing Director Sanjana T. Fernando.

“STF Corporate Advisory came to us about a year ago with several ideas and strategies on capital raising for the growth of our Company. STF understood the importance of Cost of Capital to the Company and always worked towards the best long-term interest of the Company,” said BPPL Holdings PLC Managing Director and Chief Executive Officer Dr. Anush Amarasinghe.

The loan provided by DFC has a 10-year tenure with a three-year grace period and is subject to regulatory approvals.

STF Corporate Advisory, headed by Sanjana T. Fernando, is a Melbourne based Investment Banking Advisory firm.