HSBC and Sampath Bank of Sri Lanka announced the successful completion of a $100 million five year term loan facility for Sri Lanka Telecom to upgrade its telecom infrastructure. HSBC acted as lead arranger and together with Sampath Bank participated in raising the loan. Patrick J Gallagher, CEO, HSBC Sri Lanka and Maldives said this further demonstrates HSBC’s capability in structuring and arranging deals of this nature. Sri Lanka Telecom is a key name in the country and for HSBC Sri Lanka as well, and it hopes this will further strengthen the relationship and steer the telco towards achieving its development objectives for the benefit of the country. Aravinda Perera, MD, Sampath Bank said the bank has always been an active partner with the teleco, providing an internet payment gateway and solutions to its client base, conveniences via banking channels harnessing Sampath Bank’s edge in technology.