KUALA LUMPUR: BANDAR RAYA DEVELOPMENTS BHD []'s (BDRB) unit BR Property Holdings Sdn Bhd has secured a RM450 million term loan to repay inter-company loans, payment of dividend and working capital purposes.
BDRB said on Friday, March 4 the tenor of the facility was six years from the date of the first drawdown. The facility was secured by a first legal charge over Bangsar Shopping Centre and Menara BRDB; a debenture over the present and future assets of BRPH; and an assignment of all proceeds derived from Bangsar Shopping Centre and Menara BRDB.
It said BR Property had on Thursday entered into a facility agreement with CIMB Investment Bank Bhd, Alliance Investment Bank Bhd and RHB Investment Bank Bhd as joint lead arrangers, CIMB Bank Bhd, Alliance Bank Malaysia Bhd and RHB Bank Bhd as participating lenders, Alliance Investment Bank Bhd as security agent and CIMB Investment Bank Bhd as facility agent.
BDRB said on Friday, March 4 the tenor of the facility was six years from the date of the first drawdown. The facility was secured by a first legal charge over Bangsar Shopping Centre and Menara BRDB; a debenture over the present and future assets of BRPH; and an assignment of all proceeds derived from Bangsar Shopping Centre and Menara BRDB.
It said BR Property had on Thursday entered into a facility agreement with CIMB Investment Bank Bhd, Alliance Investment Bank Bhd and RHB Investment Bank Bhd as joint lead arrangers, CIMB Bank Bhd, Alliance Bank Malaysia Bhd and RHB Bank Bhd as participating lenders, Alliance Investment Bank Bhd as security agent and CIMB Investment Bank Bhd as facility agent.
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