02 Jul 2018

Islamic financing of S$120 million in relation to SOFITEL SO.

Corporate Real Estate partners Norman Ho and Gazalle Mok and Banking & Finance partner Cindy Quek acted for RHB Bank Berhad in an Islamic financing of S$120 million granted to the owner of luxury downtown hotel, SO Sofitel (“Hotel”), via commodity murabahah term financing facilities allowed under Shariah laws. The facilities were used for the purpose of refinancing existing facilities previously used in the acquisition of the Hotel, and a second tranche for working capital, all secured by a suite of securities including the mortgage of the Hotel, approved by the Shariah board.