WongPartnership acted for Parkway Holdings Limited in relation to a S$750 million Murabaha financing with The Islamic Bank of Asia Limited as the investment agent and DBS Bank Ltd., Malayan Banking Berhad, Oversea-Chinese Banking Corporation Limited, Standard Chartered Bank and United Overseas Bank Limited as arrangers. The facilities have been structured as Shari’ah compliant Commodity Murabaha facilities with a five-year tenor and comprise a term Murabaha facility and a revolving Murabaha facility.
This deal distinguishes itself as a landmark financing transaction by virtue of this transaction being the largest Singapore-dollar Murabaha financing completed in Singapore to date involving a group of banks. This is the first Shariah compliant funding exercise by Parkway Holdings Limited and is a symbolic debut transaction following its recent acquisition by Integrated Healthcare Holdings Limited, a wholly-owned subsidiary of Khazanah Nasional Berhad.
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