Sembcorp Picks Banks for $2 Billion Alinta Loan in Aussie Push

Singapore energy provider Sembcorp Industries Ltd. has shortlisted banks for an about A$3 billion ($2.1 billion) loan to fund its purchase of Australia’s Alinta Energy Pty, according to people familiar with the matter, a further step in the firm’s strategy to expand beyond its home market.

The loan arrangers are ANZ Group Holdings Ltd., DBS Group Holdings Ltd. and Oversea-Chinese Banking Corp, the people said, who asked not to be identified discussing private matters. Sembcorp had announced the A$6.5 billion acquisition of Alinta from Chow Tai Fook Enterprises Ltd., the main investment arm of Hong Kong billionaire Henry Cheng’s family at the end of last year.