Three Malaysian banks provide $298 mln Islamic loan for developer Impian Bebas

Three Malaysian banks are to provide property company Impian Bebas Sdn Bhd with a 15-year 1.08 billion ringgit ($298.34 million) syndicated Islamic financing, Maybank Investment Bank Bhd, one of the banks involved, said. Impian Bebas was created from a partnership between property and investmemt groups KLCC Holdings Sdn Bhd and Sapura Resources Berhad. It is to develop a plot of land in central Kuala Lumpur, close to the city's Petronas twin towers. Maybank IB was appointed as the joint lead arranger with Public Islamic Bank Bhd and RHB Islamic Bank Bhd , Maybank said in a statement.