Impian Bebas gets RM1b financing for Lot 91 project at KLCC

KUALA LUMPUR: Impian Bebas Sdn Bhd, which is undertaking a mixed commercial development at Kuala Lumpur City Centre (KLCC), has secured a 15-year, RM1.08bil syndicated Islamic term financing.

Impian Bebas, a JV between KLCC (Holdings) Sdn Bhd and Sapura Resources Bhd, secured the financing from Maybank Investment Bank Bhd, Public Islamic Bank Bhd and RHB Islamic Bank Bhd.

The three banks had on Monday signed an agreement with Impian Bebsa to provide the financing.

Maybank IB was appointed as the coordinating bank and joint lead arranger together with Public Islamic and RHB Islamic for the syndicated financing. 

Lot 91 would be a mixed commercial development comprising of office tower, convention centre and retail podium.

An Impian Bebas official said the project was at a prime location within KLCC Precinct and was 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. 

Maybank IB CEO John Chong said the syndicated Islamic term financing was is a competitive financing solution tailored to meet Impian Bebas’s funding requirements and will provide long term value to the company." he added. 

The project is expected to be completed by 2020.