KUALA LUMPUR: Sunway Bhd
’s indirect wholly-owned subsidiary, Sunway Labuan Investment Ltd (SLIL), has been granted a term loan facility of up to S$600mil (approximately RM1.95bil).
The term loan facility was granted by United Overseas Bank Ltd Labuan Branch, Oversea-Chinese Banking Corp Ltd Labuan Branch and DBS Bank Ltd.
In a filing with Bursa Malaysia, the group said the facility is to finance SLIL’s acquisition of the entire issued shares of Hongkong Land Holdings Ltd from Hongkong Land International Holdings Ltd.
“The term loan facility has a limit of up to S$600mil, of which SLIL may draw down an amount up to 80%t of the purchase consideration for the acquisition, which is equivalent to S$576.56mil or approximately RM1.88bil,” it said. — Bernama
