DUBAI: Maybank Islamic Bhd has underwritten £200mil (RM1.05bil) in syndicated Islamic facilities for Phase 3 of the Battersea Power Station (BPS) project in London.
The bank’s portion is the largest of the £467mil (RM2.5bil) of the total financing amount.
Proceeds from the syndicated Islamic facilities will be used to finance the partial pre-payment of BPS’s existing land financing, and part-finance the development cost of Phase 3 of the project.
BPS had earlier announced the successful completion of its funding arrangements totalling £1.35bil (RM7.1bil) for Phases 2 and 3 of the project. Only Phase 3 is to be funded by way of Islamic facilities.
The announcement of the completion of the Islamic facilities was made yesterday on the sidelines of the 10th World Islamic Economic Forum in the presence of Prime Minister Datuk Seri Najib Tun Razak.
Also present were International Trade and Industry Minister Datuk Seri Mustapa Mohamed, Urban Wellbeing, Housing and Local Government Minister Datuk Abdul Rahman Dahlan, Maybank Islamic chairman Datuk Seri Ismail Shahudin, Maybank Islamic chief executive officer Muzaffar Hisham, Battersea Project Holding Co Ltd chairman Tan Sri Liew Kee Sin and BPS Development Company chief financial officer Simon Murphy.
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