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Asia Guide

Banking & Finance — Sri Lanka


Nithya Partners - Banking & Finance Department

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Band 1

第一等

Chambers Commentary (based on the Chambers research)

What the team is known for Market-leading practice with unparalleled strength in banking and finance matters, regularly acting for international and domestic banks. Noted for its technical strength and adept in handling capital markets, derivatives and regulatory issues, as well as loan facilities. Favoured advisers to foreign multinational financial institutions and local banks. Also receives instructions to advise on project finance transactions.

Strengths "They did a wonderful job," reports one client, who adds: "They are very sharp and very prompt."

Another client concurs: "They give excellent service, are very professional in their approach, and are always looking to find amicable solutions."

Work highlights Represented Sampath Bank in a LKR6 billion public issuance of rated, unsecured, subordinated debentures on the Colombo Stock Exchange.

Assisted People’s Leasing & Finance with its LKR8 billion issuance of senior unsecured redeemable debentures.

Notable practitioners

Naomal Goonewardena is hailed by clients as being "very diligent and smart for his work in the financial sector and on capital markets." He maintains a robust portfolio of work which includes advising on debt transactions, syndicated loans, tax and structured finance. He has advised Sampath Bank on its LKR6 billion subordinated debenture offering.

About the Team (content provided by Nithya Partners)

Led by Mr. Naomal Goonewardena, Nithya Partners continues to maintain a strong practice in the areas of banking and finance. The department has been actively involved in a number of large transactions which have taken place recently, particularly in the area of cross-border debt issuances by corporate entities. We consistently advise leading local banks as well as overseas banking entities in their debt financing in Sri Lanka and on their proposals to enter the domestic market.  We also continue to advise the largest leasing and finance companies in the country.

Our expertise is, inter alia, in the areas of  international bond offerings, loan financing (bilateral and syndicated loans, ECA backed financing, secured and unsecured financing), debt structuring, structured financing, derivatives and financial products, regulatory and compliance advice, banking regulation, banking documentation, trade financing and Islamic financing. 

Overseen by Mr. Chanaka de Silva, the Firm also regularly advises clients on disputes relating to infrastructure and project-related transactions and arbitrations. Mr. de Silva who is considered the foremost legal expert in the field of project finance transactions and negotiations has also been involved in advising, negotiating and structuring several large infrastructure projects in diverse areas such as electricity, telecommunications, petroleum, road, ports and mining and several privatizations. 


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DL & F De Saram - Banking & Finance Department

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Band 2

第二等

Chambers Commentary (based on the Chambers research)

What the team is known for Trusted advisers to a number of major global banks on corporate and regulatory matters. Active in derivative and mortgage transactions as well as exchange controls, frequently acting as co-counsel alongside international law firms on cross-border matters. Regularly advises on asset and project finance for businesses in the telecoms, pharmaceutical, transport and energy sectors, among others.

Strengths One commentator praises the team's commerciality: "They are very good, proactive and give good advice. They also have a business-minded approach."

A client highlights the team's turnaround time: "Excellent. Prompt and precise in their advice."

Work highlights Advised China Development Bank as local counsel on its USD155 million loan to Avic International Hotels Lanka for the large-scale mixed development project regarded as a ‘Strategic Development Project’ under Sri Lankan Law.

Assisted the Asian Development Bank with a USD7 million senior secured and guaranteed loan to an SPV established by DCDC Health Services.

Notable practitioners

Group leader Prabash De Saram remains a popular choice for foreign financial institutions. He is frequently instructed to assist with loan transactions. He is also adept in tackling structured financing and regulatory issues.

About the Team (content provided by DL & F De Saram)

Department profile not yet provided by DL & F De Saram. Please see their firm profile.

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FJ & G de Saram - Banking & Finance Department

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Band 2

第二等

Chambers Commentary (based on the Chambers research)

What the team is known for Highly reputed team servicing both international and domestic lenders on loan agreements, with additional expertise in project finance and derivatives transactions. Active advising on syndicated and term loans, as well as securitisations. Notable experience handling mortgage bond issues. Roster of clients includes a range of development banks as well as other financial institutions.

Work highlights Represented Maybank Investment Bank in drafting a mortgage bond over shares of Asia Pacific Institute of Information Technology Lanka held by Landas Bijak in connection with the MYR365 million murabaha financing for the IMLU Education Group.

Assisted the Bank of Tokyo-Mitsubishi UFJ with its acquisition of Siam City Concrete mortgage bonds in order to give Siam City Concrete a USD400 million secured term loan facility for its acquisition of shares in Holcim.

Notable practitioners

Ayomi Aluwihare-Gunawardene co-leads the practice and has over two decades of experience acting on a variety of finance transactions. She is well known for her expertise working on bond transactions, and has advised Deutsche Bank and United Overseas Bank on the acquisition of SGD150 million mortgage bonds over shares in the Lanka Hospital owned by Fortis Healthcare International.

Himali Mudadeniya remains a popular choice for international financial institutions engaged in domestic banking transactions, as well as debt and equity offerings. Of late, she has acted as local counsel to Citibank, Deutsche Bank, HSBC and Standard Chartered Bank with the issuance of 5.75% bonds by the government of the Democratic Socialist Republic of Sri Lanka, valued at USD500 million, as well as USD1 billion in 6.825% bonds. She is also well versed in Islamic financing matters.

About the Team (content provided by FJ & G de Saram)

Department profile not yet provided by FJ & G de Saram. Please see their firm profile.

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Julius & Creasy - Banking & Finance Department

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Band 2

第二等

Chambers Commentary (based on the Chambers research)

What the team is known for Long-established team covering syndicated loans and banking regulatory advice, among other areas. Offers extensive experience working with overseas banks on lending to Sri Lankan companies. Also adept in tackling exchange controls as well as securitisation and derivative transactions. Notable for its asset finance expertise, especially in the aviation sector.

Strengths One client reports: "They are extremely knowledgeable in various spheres of law and we can, without any doubt, rely on the work that they carry out and the opinions they provide."

The team's fast turnaround is also praised: "They respond to us in good time."

Work highlights Assisted CIT Aerospace International with the discharge of the security documents to a security trustee in relation to three aircraft leased to SriLankan Airlines.

Notable practitioners

Janaki Kumaraguru holds a wealth of experience acting on non-recourse loans and derivative transactions as well as cross currency payments. She is also skilled in offering advice on data protection laws concerning the banking sector. Additionally, she advises on asset finance matters, including leading the firm's work for CIT Aerospace International on the discharge of security documents related to three aircraft leased to SriLankan Airlines.

About the Team (content provided by Julius & Creasy)

Department profile not yet provided by Julius & Creasy. Please see their firm profile.

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Neelakandan & Neelakandan - Banking & Finance Department

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Band 2

第二等

Chambers Commentary (based on the Chambers research)

What the team is known for Renowned team with expertise acting as lenders' counsel in power and infrastructure projects. Acts for a wide range of international banks. Offers additional strength in capital markets and tax matters.

Notable practitioners

Saravanan Neelakandan is a key contact for the practice.

About the Team (content provided by Neelakandan & Neelakandan)

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Band 1

Ayomi Aluwihare-Gunawardene

FJ & G de Saram

From the Chambers Asia-Pacific guide

Ayomi Aluwihare-Gunawardene co-leads the practice and has over two decades of experience acting on a variety of finance transactions. She is well known for her expertise working on bond transactions, and has advised Deutsche Bank and United Overseas Bank on the acquisition of SGD150 million mortgage bonds over shares in the Lanka Hospital owned by Fortis Healthcare International.

^ See whole ranking table

Band 1

Naomal Goonewardena

Nithya Partners

From the Chambers Asia-Pacific guide

Naomal Goonewardena is hailed by clients as being "very diligent and smart for his work in the financial sector and on capital markets." He maintains a robust portfolio of work which includes advising on debt transactions, syndicated loans, tax and structured finance. He has advised Sampath Bank on its LKR6 billion subordinated debenture offering.

^ See whole ranking table

Band 2

DL & F De Saram

From the Chambers Asia-Pacific guide

Group leader Prabash De Saram remains a popular choice for foreign financial institutions. He is frequently instructed to assist with loan transactions. He is also adept in tackling structured financing and regulatory issues.

^ See whole ranking table

Band 3

Janaki Kumaraguru

Julius & Creasy

From the Chambers Asia-Pacific guide

Janaki Kumaraguru holds a wealth of experience acting on non-recourse loans and derivative transactions as well as cross currency payments. She is also skilled in offering advice on data protection laws concerning the banking sector. Additionally, she advises on asset finance matters, including leading the firm's work for CIT Aerospace International on the discharge of security documents related to three aircraft leased to SriLankan Airlines.

^ See whole ranking table

Band 3

Himali Mudadeniya

FJ & G de Saram

From the Chambers Asia-Pacific guide

Himali Mudadeniya remains a popular choice for international financial institutions engaged in domestic banking transactions, as well as debt and equity offerings. Of late, she has acted as local counsel to Citibank, Deutsche Bank, HSBC and Standard Chartered Bank with the issuance of 5.75% bonds by the government of the Democratic Socialist Republic of Sri Lanka, valued at USD500 million, as well as USD1 billion in 6.825% bonds. She is also well versed in Islamic financing matters.

^ See whole ranking table