People’s Merchant Bank Limited (PMBL) recently sourced Rs. 200mn in medium term funds, on behalf of Orient Financial Services Corporation Limited (OFSCL). This entire facility was granted by Bank of Ceylon (BOC).
This two-year facility carries a variable interest rate, pegged to the Average Weighted Prime Lending Rate. The monies raised through this facility will be utilized to further augment OFSCL’s fund base and to pursue its aggressive growth strategy.