Battersea seals £1.35bn with Islamic piece

Battersea Power Station
By Shruti Chaturvedi, Steven Gilmore
30 Oct 2014

A £1.35bn fundraising for phases II and III of the Battersea Power Station project was signed among seven banks on October 28. The loan was split into a £750m facility to fund phase II and a £600m portion for phase III that included a chunk of Islamic financing. It represents one of the biggest sterling financings by a Malay consortium.

CIMB, Maybank and Standard Chartered underwrote the £1.35bn deal. DBS, National Bank of Abu Dhabi, Oversea-Chinese Banking Corp and RHB Bank joined as primary syndicate members for the loan.

The five year borrowing pays a margin of 225bp over Libor and was split into four parts. The £750m ...

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