Maybank Appointed Joint Lead Arranger For US$219 Million Construction Project In New York

KUALA LUMPUR, June 27 (Bernama) -- Malaysia's largest banking group, Maybank, was appointed joint lead arranger with Warba Bank of Kuwait for the construction of a luxury residential tower in New York worth US$219 million(US$1 = RM4.12). Group Head of Global Banking Amirul Feisal Wan Zahir said the project, which was Maybank's first shariah-compliant financing, would be used for the construction of a 43-storey Tribeca condominium in Manhattan, developed by Soho Properties. "Maybank was appointed joint lead arranger with Warba Bank of Kuwait for the syndication of the 202metre tall glass and steel tower project which will begin middle of this year and is scheduled for completion in 2018. "Maybank's appointment as a joint leader of the financing syndication was a reaffirmation of Soho Properties' trust in Maybank's ability to undertake this exercise," he said in a statement Monday. Amirul said the syndication also reaffirmed the bank's ability to offer value-creating Islamic banking solutions for global clients. "As one of Asia's leading banking groups, we have been at the forefront in financing major infrastructure and property development projects across many countries," he added. --BERNAMA