Thursday, September 19

M aybank IBIB, Public Islamic and RHB Islamic arrange Islamic term financing for Impian Bebas

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KUCHING: Maybank Investment Bank Bhd (Maybank IB), Public Islamic Bank Bhd (Public Islamic) and RHB Islamic Bank Bhd (RHB Islamic) had on Monday entered into an agreement with Impian Bebas Sdn Bhd (Impian Bebas) to provide a 15-year, RM1.08 billion syndicated Islamic term financing.

Malayan Banking Bhd (Maybank) in a press statement said Maybank IB was appointed as the coordinating bank and joint lead arranger (JLA) for the Islamic term financing together with Public Islamic and RHB Islamic.

Impian Bebas, a joint venture company between KLCC (Holdings) Sdn Bhd and Sapura Resources Bhd, is developing a commercial land known as Lot 91 at Kuala Lumpur City Centre (KLCC) into a mixed commercial development comprising of office tower, convention centre and retail podium.

In the meantime, Maybank IB’s CEO John Chong said, gOn behalf of the JLAs, we would like to put on record our gratitude to Impian Bebas and its shareholders for their confidence in our capabilities to provide the funding for this important project. h

“The Syndicated ITF is a competitive financing solution that is tailored to meet Impian Bebas fs funding requirements and will provide long term value to the company,” he said.

Meanwhile, according to a representative from Impian Bebas, the project is located at a prime location within KLCC Precinct and is designed with seamless integration with the existing KLCC.

The representative added the project is also within walking distance from Suria KLCC Shopping Mall and is expected to garner strong interest from tenants. The project is expected to be completed by 2020.