Sembcorp’s $2 Billion Alinta Loan Fuels Australia’s Funding Boom

Singapore’s Sembcorp Industries Ltd. is seeking a loan of around A$3 billion ($2.1 billion) to back its purchase of power generator and retailer Alinta Energy Pty., according to people familiar with the matter, adding to a growing wave of acquisition funding in Australia.

The loan for Sembcorp’s Australian unit will be split between an acquisition tranche — with a tenor ranging from five to 10 years — and a working capital portion, the people said, asking not to be identified discussing private matters. Goldman Sachs Group Inc. and DBS Group Holdings Ltd. are the joint financial advisers on the deal, which partially refinances a bridge facility of about A$6.5 billion, people familiar said.