KLCC, Sapura JV secures RM1.08b for project development

PETALING JAYA: Impian Bebas Sdn Bhd, a joint venture between KLCC (Holdings) Sdn Bhd and Sapura Resources Bhd, has secured RM1.08 billion in syndicated Islamic term financing (ITF) for a period of 15 years.
Impian Bebas is undertaking a mixed commercial development at Lot 91 of Kuala Lumpur City Centre, comprising an office tower, convention centre and retail podium. The project is slated for completion by 2020.
In a statement released yesterday, Maybank Investment Bank Bhd, Public Islamic Bank Bhd and RHB Islamic Bank Bhd said they entered into an agreement with Impian Bebas for the financing facility.
"The syndicated ITF is a competitive financing solution that is tailored to meet Impian Bebas's funding requirements and will provide long term value to the company," noted Maybank IB CEO John Chong.