KUALA LUMPUR: CIMB Islamic Bank Bhd yesterday formalised the largest-ever term financing facility to date with a multinational company when the bank, a unit of CIMB Group Holdings Bhd, signed a 12-year US$100mil facility based on the syariah concept of Bai’ Al ‘Innah with Hewlett-Packard (HP) Multimedia Sdn Bhd, a subsidiary of Hewlett-Packard Malaysia Sdn Bhd.
The bank was represented by CIMB Group chief executive Datuk Seri Nazir Razak, who signed on behalf of CIMB Islamic, while HP was represented by its enterprise services senior vice-president for Asia Pacific and Japan, Kevin Jones.