IHH Healthcare subsidiary accepts S$1.8b banking facility

IHH Healthcare Berhad on Monday said that its subsidiary Parkway Pantai Limited (PPL) has accepted a banking facility worth S$1.8 billion.

IHH said that PPL had on Sept 15 signed a facility agreement for a committed unsecured multi-currency five-year revolving credit facility granted by mandated lead arrangers comprising BNP Paribas, Credit Agricole Corporate and Investment Bank, DBS, OCBC, The Bank of Tokyo-Mitsubishi UFJ and UOB.

The facility has a tenure of five years beginning on Sept 15, and is intended to be used for refinancing (directly or indirectly) an existing S$620 million facility; financing the general corporate and corporate funding and working capital requirements of PPL and its subsidiaries; and financing the investments and projects of PPL and its subsidiaries.