April 20, 2015 / 11:11 AM / 5 years ago

Three Malaysian banks provide $298 mln Islamic loan for developer Impian Bebas

KUALA LUMPUR, April 20 (Reuters) - Three Malaysian banks are to provide property company Impian Bebas Sdn Bhd with a 15-year 1.08 billion ringgit ($298.34 million) syndicated Islamic financing, Maybank Investment Bank Bhd, one of the banks involved, said.

Impian Bebas was created from a partnership between property and investmemt groups KLCC Holdings Sdn Bhd and Sapura Resources Berhad. It is to develop a plot of land in central Kuala Lumpur, close to the city’s Petronas twin towers.

Maybank IB was appointed as the joint lead arranger with Public Islamic Bank Bhd and RHB Islamic Bank Bhd , Maybank said in a statement.

$1 = 3.6200 ringgit Reporting By Trinna Leong. Editing by Jane Merriman

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