Malaysian developers awarded RM4 billion loan for UK job

November 25, 2013 4:52 AM

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The Malaysian consortium comprising SP Setia Bhd, Sime Darby Property and the Employees Provident Fund, have secured 790.2 million pounds (approximately RM4 billion) in a development and land refinancing loan for the Battersea Power Station in the United Kingdom.

The facility was arranged with a group of international banks led by CIMB Bhd as the coordinating mandated lead arranger and book runner with OCBC, Standard Chartered and Malayan Banking Bhd as joint mandated arrangers.

"We are delighted that our bankers, who have worked with us for many years in Malaysia, have come out so strongly to support our efforts to revitalise the Battersea Power station in the United Kingdom," said Battersea Project Holding Company Ltd Chairman Tan Sri Liew Kee Sin.

He was speaking at a loan signing ceremony today witnessed by the Minister of Urban Wellbeing, Housing and Local Government Datuk Abdul Rahman Dahlan.

The financing is one of the largest real estate financing transactions of this year and comprises a 532 million pounds (RM2.77 billion) five-year development facility to support Phase 1 of the development and the refurbishment of the Power Station project over the next three-and-a-half years. - Bernama, November 25, 2013.


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