Kuala Lumpur, March 24 - Maybank Islamic Bhd, HSBC Amanah Malaysia Bhd and RHB Islamic Bhd had successfully concluded the seven-year, RM610 million Syndicated Commodity Murabahah Term Financing-i Facility for Columbia Asia Sdn. Bhd. (CASB).
Maybank Islamic was also appointed as the Shariah Adviser while Maybank Investment Bank Bhd was appointed as the Facility Agent and Security Agent for the Islamic Facility.
The Islamic Facility will be utilised by CASB to refinance the company’s existing indebtedness and to part-finance its new hospital developments in Klang (Selangor), Batu Kawan (Penang), Tebrau (Johor) along with related expansion works for the existing hospital in Nusajaya (Johor).
The Columbia Asia Group started its operations in 1996 in Malaysia and is one of the leading healthcare providers in the region. The Group has 30 medical facilities across Asia and Africa namely 12 in Malaysia, 11 in India, 3 in Vietnam, 3 in Indonesia and 1 in Kenya.
According to Dilip Kadambi, Group Chief Financial Officer of the Columbia Asia Group, “We believe this transaction is a landmark fundraise for the Group. The financing would facilitate our organic growth plans in Malaysia to fulfil our mission to deliver the best clinical outcomes in the most effective, efficient and caring environment. Columbia Asia Group is committed to expand our operations to meet the growing demand of healthcare needs across Asia.”
The construction of CASB’s new hospitals is expected to be completed by 2019.