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.
"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
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