KUALA LUMPUR (Feb 18): Law firm Herbert Smith Freehills said today it advised Lendlease Corp Ltd on its role as sponsor in relation to the RM2.15 billion financing of the Tun Razak Exchange (TRX) Lifestyle Quarter (pictured) development here.
In a statement today, Herbert Smith Freehills said the TRX Lifestyle Quarter is a mixed integrated development which comprises residential, entertainment, leisure, public park, hotel and retail components. It is Lendlease's largest integrated development in Asia, according to Herbert Smith Freehills.
*Guan Eng: TRX project has been detoxified
*WCT and Chinese partner to jointly develop first residential project in TRX worth RM1.1b
*Tabung Haji set to sell TRX land bought from 1MDB
"The 17-acre (6.8ha) development is a 60:40 joint venture between Lendlease and the Malaysian Ministry of Finance. Herbert Smith Freehills advised Lendlease on the transaction which included sponsor support in connection with a financing facility secured from the consortium of HSBC, Maybank, Standard Chartered and Sumitomo Mitsui Banking Corp for a period of five years.
"This deal is another example of the market-leading expertise of Herbert Smith Freehills' finance practice. It follows Herbert Smith Freehills advising Lendlease on the development of the first and second commercial office towers at Melbourne Quarter," Herbert Smith Freehills said. — theedgemarkets.com
TOP PICKS BY EDGEPROP
Kelana Business Centre
Petaling Jaya, Selangor
Subang Light Industrial Park
Subang Jaya, Selangor
Taman Perindustrian Subang USJ 1
Subang, Selangor
Plenitube Harp @ Taman Desa Tebrau
Johor Bahru, Johor
Pangsapuri Sri Ilham, Bandar Baru Seri Alam
Masai, Johor
Foresthill Damansara
Damansara Perdana, Selangor