QIA-Linked Regal Path Secures Large Syndicated Banking Facility to Buy Pavilion Bukit Jalil Mall

Posted on 10/14/2019


Image Credit: Malton Berhad

Regal Path Sdn Bhd is buying the Pavilion Bukit Jalil mall from Pioneer Haven Sdn Bhd, a wholly owned subsidiary of Malton Berhad (Malton). Regal Path secured syndicated banking facilities of up to RM 1.1 billion for the deal.

The Pavilion Bukit Jalil mall is part of the 50-acre Bukit Jalil City, which was developed by Malton.

Regal Path Equity Owners

Regal Path is a joint venture company of Malton’s wholly-owned subsidiary Khuan Choo Realty Sdn Bhd, Qatar Investment Authority’s (QIA) sovereign wealth enterprise (SWE) Q PBJ Sdn Bhd, and Tan Sri Desmond Lim via his private vehicle Jelang Tegas Sdn Bhd. On 28 May 2019, the three strategic investors entered into a subscription agreement with Regal Path to participate in the ownership of Pavilion Bukit Jalil mall.

Lenders

Regal Path signed the facilities agreement with four banks, namely CIMB Bank Berhad, Malayan Banking Berhad, OCBC Bank (Malaysia) Berhad and United Overseas Bank (Malaysia) Berhad. In addition, the four banks are also the Joint Mandated Lead Arrangers (JMLA). The syndicated banking facilities will be utilized to finance the acquisition of the Pavilion Bukit Jalil mall. The Facility Agent and Security Agent is OCBC Bank (Malaysia) Berhad and CIMB Bank Berhad respectively.