KUALA LUMPUR, May 10 (Reuters) – Malaysian investment fund
Permodalan Nasional Bhd (PNB) is seeking a 628 million pound
($1.01 billion) five-year term loan to take out two six-month
bridge loans for its shopping spree on three landmark London
properties, a Thomson Reuters publication, Basis Point, reported
on Thursday.
Basis point quoted sources as saying said PNB has been in
talks with around seven banks, including Bank of
Tokyo-Mitsubishi UFJ, Mizuho Corporate Bank
, OCBC Bank, Scotiabank,
Standard Chartered Bank, Sumitomo Mitsui Banking Corp
and UOB to arrange the facilities.
The first bridge entailed a StanChart-led facility, which
will back the 350 million pound purchase of Milton & Shire House
on Silk Street, the current headquarters of law firm Linklaters,
Basis Point added.
The Malaysian government-linked fund planned to borrow a 250
million pound loan to take out the bridge earlier this year, but
it decided to get the larger-sized new loan after it went on to
buy two more London properties, according to Basis Point.
PNB has bought three London office properties since the
start of the year, two of which were acquired from German fund
KanAm for about 570 million pounds.
