Allen & Gledhill LLP is advising on the first real estate investment trust (REIT) listed in Singapore to have taken up Shari’ah compliant debt financing.
Sabana Shari’ah Compliant Industrial Real Estate Investment Trust (“Sabana Shari’ah Compliant REIT“) has taken up a S$256 million commodity Murabaha facility (the “Commodity Murabaha Facility“). The Commodity Murabaha Facility has been certified by the Hongkong and Shanghai Banking Corporation (HSBC) Amanah Central Shari’ah Committee to be Shari’ah compliant.
Advising Sabana Real Estate Investment Management Pte Ltd (as manager of Sabana Shari’ah Compliant REIT) as transaction counsel are Allen & Gledhill LLP Partners Jerry Koh, Foong Yuen Ping, Lyn Wee and Chew Mei Choo, Senior Associate Daniel Law and Associate Shalene Jin.
Advising HSBC, Malayan Banking Berhad and United Overseas Bank Limited (as coordinating arrangers and participants) are Allen & Gledhill LLP Partners Eugene Ooi and Suhaimi Zainul and Associates Aloysius Ng and Melanie Tan.
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