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Asian, Other Banks Joining Financing For Iconic London Redevelopment

Tom Burroughes

28 October 2014

A quartet of banks have joined the £1.35 billion financial package that backs part of the development of London’s iconic Battersea Power Station, highlighting continued Asian involvement in the UK capital’s property market, reports said.

DBS Bank, National Bank of Abu Dhabi and OCBC Bank have joined as mandated lead arrangers, while RHB Bank came in as lead arranger, according to Reuters, which said allocations are being finalised.

CIMB Bank, Maybank and Standard Chartered Bank are the leads on the financing. The power station is being redeveloped by a Malaysian consortium, described as the largest ever loan raised in the Malaysian and London property sector for a project of this kind.