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Standard Chartered grants USD 225 Million Senior Secured Syndicated Term Loan Facility to refinance Cinnamon Life project

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Standard Chartered Sri Lanka has arranged a Senior Secured Syndicated Term Loan Facility amounting to a total of USD 225 Million to Waterfront Properties (Private) Limited, acting as the Sole Mandated Lead Arranger and Bookrunner. The proceeds from the facility were used to refinance the existing USD 395 Million facility provided to Waterfront Properties (Private) Limited in 2014 towards the development of Cinnamon Life, which is one of the largest mixed used properties in Sri Lanka. Standard Chartered successfully syndicated the refinancing facility with the core group of existing lenders which includes Hatton National Bank PLC, Commercial Bank of Ceylon PLC, HSBC and National Development Bank PLC.

Waterfront Properties (Private) Limited is a fully owned subsidiary of John Keells Holdings PLC, Sri Lanka’s largest listed conglomerate, while its project Cinnamon Life is nearing completion with both the residential and commercial components of the project being finalised. The project consists of hotel, conference, office, residential apartment, retail and entertainment spaces spanning a total gross floor area of 4.5mn sqft in the heart of Colombo.

Commenting on the transaction, Tamani Dias, Head of Local & International Corporates, Standard Chartered Sri Lanka, said, “Despite the challenges faced by the ongoing pandemic, Standard Chartered remains committed to fulfilling the requirements of our clients, and this facility serves as a prime example of our dedication to service our customers in a timely manner. Further, this transaction is also an excellent demonstration of the seamless teamwork and collaboration across the Bank’s multiple teams, including South Asia Financing Solutions, South Asia Commercial Real Estate, Client Coverage Sri Lanka, Credit, Legal, Loan Documentation Unit and Operations.”

The successful execution of the syndicated financing facility marks another key milestone in Standard Chartered’s relationship with John Keells Group while strengthening the core bank status. The transaction also marks Standard Chartered’s continued commitment to support corporate clients of Sri Lanka with bespoke financial solutions.



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Business

Business World International Awards 2025 takes off at Mount Lavinia Hotel

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The Business World International Conference and Awards Ceremony organised by Business World International Organisation INC-USA, the event which is recognized as one of the most prestigious Business Award Festivals in the Asia Pacific Region, was held at the Mount Lavinia Hotel, Colombo with the participation of several business personalities and celebrities of Sri Lanka. The Joint Chief Guests were Dr. Purna Bahadur Nepali (Ambassador of Nepal to Sri Lanka) and Prof. Dr. Dietmar Doering (Founder / Chairman – AGSEP Research and Advisory Board Member of Business World International Organization – USA). Guests of Honour were Tham Whye Long (First Secretary/Head of Chancery – High Commission of Malaysia in Sri Lanka), Prof. Dr. Rohan De Silva (President – Sri Lanka Chamber of Small and Medium Industries), (Retd) Major General R. A. J. N. Ranasingha (RSP USP NDC MSC – Sri Lanka Army), Dr. Rohan Pallewatta (Excutive Chairman of the Start-Up High Tech Company – Lanka Harness, a BOI approved company operating in the Free Trade Zone at Biyagama in Sri Lanka), Dr. Kishu Gomes (Chairman – Exterminators PLC, Group Managing Director / CEO – Dreamron Group of Companies & Advisory Committee Member – Sri Lanka Tourism), Dian Gomes (Nonorary Consul of Georgia in Sri Lanka, Chairman – Colombo School of Business Management & Independent Non-Executive Director – Nestle Lanka Ltd).

Special Guests were Rt. Rev. Bishop Prof. Dr. Nissanka Weerappulige (Advisory Board Member of Business World International Organization – USA), Prof. Dr. Dame Anoma Weeraratne Wijenayake (Advisory Board Member of Business World International Organization – USA), Gerd Heinzerling (Advisory Board Member of Business World International Organization – USA), Priyantha Padmasiri (President – Sri Lanka Canada Business Council), M. H. K. M. Hameez (Vice President – Sri Lanka Canada Business Council & Immediate Past President – Sri Lanka Malaysia Business Council). The invitees were graciously welcomed by Dr. Anthony Dexter Fernando (Chairman – Business World International Organisation USA – International Chapter), Dr. Tharindu Wijenayake (Deputy Chairman – Business World International Organisation USA – International Chapter) and Dr. Emerita Wijenayake (Project Chairperson & Director – Business World International Organisation USA – International Chapter).

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Sampath Bank Partners with COYLE to Champion SME Growth and Entrepreneurship

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Tharaka Ranwala, Senior Deputy General Manager – Marketing, Customer Care, and Card Centre, Sampath Bank (2nd from L), exchanged the MOU with Suren Chandraratna, Senior Vice Chairman, COYLE (2nd from R), in the presence of Anjali Goonetilake, Senior Manager – Marketing, Sampath Bank (1st from L), and Jayamal Gunaratne, Project Chairman, COYLE (1st from R).

Sampath Bank recently formalised a strategic partnership with the Chamber of Young Lankan Entrepreneurs (COYLE) by signing a Memorandum of Understanding (MOU) at its Head Office. This partnership highlights Sampath Bank’s ongoing commitment to promoting innovation, driving business growth, and empowering Sri Lanka’s entrepreneurial ecosystem.

Through this collaboration, Sampath Bank will serve as the official banking partner for the COYLE Awards and the Young Lankan Program, two flagship initiatives that recognise business excellence and nurture emerging leaders. Supporting these initiatives allows the Bank to create a strong pipeline for SME engagement, provide access to tailored financial solutions, and build meaningful relationships with the country’s leading entrepreneurs.

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ANC hosts NUCARS 2025

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International students and ANC Education - Northwood University students at the NUCARS 2025

ANC, a leading Lankan higher education provider, partnered with Northwood University to host the 2025 NUCARS simulation in Sri Lanka for the first time. Held from April 7–11, the event brought together students from the U.S., Europe, and Sri Lanka for an immersive, hands-on learning experience in automotive retail strategy. Twenty-two ANC students participated, showcasing their ability to compete globally. Celebrating its 28th anniversary, NUCARS emphasized teamwork, cross-cultural collaboration, and real-world business decision-making—highlighting ANC’s commitment to delivering globally recognized education and empowering students with essential skills for the international marketplace, said a release.

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