Khazanah said to have agreed to S$1.85b loan for Parkway bid

Published: 2010/08/05


Australia & New Zealand Banking, CIMB, DBS, OCBC, UOB, Maybank, HSBC and BNP Paribas will lend to the company, sources say




Khazanah Nasional Bhd, Malaysia's sovereign wealth fund, agreed to S$1.85 billion (RM4.33 billion) in loans to part-finance its offer for Parkway Holdings Ltd, according to three people with knowledge of the matter.



Australia & New Zealand Banking Group Ltd, CIMB Group Holdings Bhd, DBS Group Holdings Ltd, Oversea-Chinese Banking Corp, United Overseas Bank Ltd, Malayan Banking Bhd, HSBC Holdings plc and BNP Paribas SA will lend to the company, the people said, asking not to be named because the deal is private.



The facility has a three-year maturity, two of the people said. It pays interest of 125 basis points more than the Singapore dollar swap offer rate, one of the people said. A basis point is 0.01 percentage point.



Khazanah said on July 26 that it offered S$3.5 billion (RM9 billion) for the shares in Singapore-based Parkway that it doesn't already own, topping a bid from India's Fortis Healthcare Ltd. It raised S$1.5 billion (RM3.5 billion on Tuesday from five- and 10-year Islamic bonds in the city state's largest sale of the securities.









Asuki Mohd Abas, a spokesman for Khazanah, declined to comment on the company's financing arrangements.



Khazanah's non-recourse loan is through Integrated Healthcare Holdings Ltd, the unit that's making the Parkway bid, one of the people said yesterday. Integrated Healthcare





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