STF Corporate Advisory has successfully managed to source and secure
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 are in turn used by international
sportswear brands such as Nike and Decathlon. The Sri Lankan company was also recently ranked
by prestigious Forbes Asia, as one of the top 200 companies in Asia
under US$1 billion revenue in 2021.
“We saw BPPL as a hidden gem in Sri Lanka, an icon of an ESG Company and a very well-run
business silently doing a lot of good for the environment while also bringing in much needed dollars
into the Sri Lankan economy by exporting the recycled polyester yarn. We wanted to help grow the
business and took on the mandate to source and secure the capital funding required for its growth.
We are glad to have helped BPPL finally secure a commitment of US$ 15 Million loan from US DFC
despite the very challenging dollar-crunch crisis environment in Sri Lanka.” said Sanjana T. Fernando,
Managing Director STF Corporate Advisory.
“STF Corporate Advisory came to us about a year ago with several ideas and strategies on capital
raising for the growth of our Company. We were very impressed with their ability to very quickly
bring a considerable number of high-profile international investors and lenders to the negotiation
table, including sovereign wealth fund backed equity investors and several International Government
backed Development Finance Corporations. STF understood the importance of Cost of Capital to
the Company and always worked towards the best long-term interest of the Company. They
negotiated and executed the transaction in a very professional manner. We are delighted to have
had STF advise us on this transaction in these very challenging times, where international experience,
execution and completion ability is key for a good debt advisor.” said Dr. Anush Amarasinghe, BPPL
Holdings PLC Managing Director and Chief Executive Officer.
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 with a focus on advising Sri Lankan based listed companies, mainly on M&A and debt and equity capital raising. In the past STF Corporate Advisory has worked with several Sri Lankan
listed conglomerates including John Keells Holdings, Hayleys, LOLC Holdings and Browns
Investments. Most recently it sourced and advised LOLC Holding’s Browns Investments on raising
equity investment of US$ 30 Million from Spanish Hospitality Giant Barcelo Hotel Group.