Lenders vie for TransGrid acquisition financing

Lenders are pitching to back the bidders for New South Wales electric utility TransGrid, which is estimated to be worth as much as $6.4 billion.

Lenders are pitching for roles to back bidders in the upcoming New South Wales privatisation of TransGrid, which is being valued at between A$7 billion and A$8 billion $5.6 billion to $6.4 billion, according to sources familiar with the matter.

The sale of a 99-year lease in the electricity transmission grid TransGrid is expected to attract a wide bidding universe of at least six consortiums, including Chinese bidders.

According to two of these sources, China’s State Grid Corp is weighing a joint bid with Australia-listed Ausnet, though nothing definitive has been decided upon. State-owned China Southern Power is...

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