The respective state-owned investment companies of Singapore and Malaysia Temasek Holdings and Khazanah Nasional have appointed eight banks to arrange $3.9 billion of property development loans, Bloomberg reports. The lenders will contribute to the five-year bullet credit facility, which will pay an all-in fee of 100 basis points over benchmark rates.
The selected banks are DBS Group Holdings, HSBC Holdings, Oversea-Chinese Banking Corp., Malayan Banking, Bank of Tokyo- Mitsubishi UFJ, Standard Chartered, Sumitomo Mitsui Banking Corp. and United Overseas Bank. The lenders are at present working through internal credit approvals and the loan is scheduled to be signed next year.
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