Kuala Lumpur: Maybank Investment Bank Berhad (“Maybank IB”), Public Islamic Bank Berhad (“Public Islamic”) and RHB Islamic Bank Berhad (“RHB Islamic”) today entered into an agreement with Impian Bebas Sdn Bhd to provide a 15-year, RM1.08 billion Syndicated Islamic term financing (“Syndicated ITF”).
Maybank IB was appointed as the Coordinating Bank and Joint Lead Arranger (“JLA”) together with Public Islamic and RHB Islamic for the Syndicated ITF.
Impian Bebas Sdn Bhd, a joint venture company between KLCC (Holdings) Sdn Bhd (“KLCCH”) and Sapura Resources Berhad (“SRB”), 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 (the “Project”).
According to the representative from Impian Bebas Sdn Bhd, the Project is located at a prime location within KLCC Precinct and is designed with seamless integration with the existing Kuala Lumpur Convention Centre. The Project is also within walking distance from the Suria KLCC Shopping Mall and is expected to garner strong interest from tenants.
John Chong, CEO of Maybank IB, meanwhile said, “On behalf of the JLAs, we would like to put on record our gratitude to Impian Bebas Sdn Bhd and its shareholders for their confidence in our capabilities to provide the funding for this important project.”
“The Syndicated ITF is a competitive financing solution that is tailored to meet Impian Bebas Sdn Bhd’s funding requirements and will provide long term value to the company." he added.
The Project is expected to be completed by 2020.