Temasek Sets Senoko Power Bid Deadline

SINGAPORE (Reuters) – Singapore sovereign fund Temasek Holdings [TEM.UL] has set Wednesday as the deadline for second round bids for the sale of Senoko Power, sources said on Tuesday, in a deal that is expected to fetch as much as $3 billion.

Temasek is also offering a short-term financing arrangement for the deal, sources said.

DBS (DBSM.SI: Quote, Profile, Research) and United Overseas Bank (UOBH.SI: Quote, Profile, Research) could arrange as much as 70 percent of financing for the sale in the form of a two-year bridge loan at 250 basis points above London Interbank Offered Rate (LIBOR), one banker told Reuters.

Five bidders have been shortlisted, banking sources said.

Singapore's Keppel Corp (KPLM.SI: Quote, Profile, Research); a consortium of GDF Suez (GSZ.PA: Quote, Profile, Research) and Marubeni Corp (8002.T: Quote, Profile, Research); the OneEnergy Ltd tie-up between Hong Kong's CLP Holdings (0002.HK: Quote, Profile, Research) and Mitsubishi Corp (8058.T: Quote, Profile, Research); India's Tata Power Co Ltd (TTPW.BO: Quote, Profile, Research); and Malaysia's YTL Power Bhd (YTLP.KL: Quote, Profile, Research) are likely bidders, sources said.

(Reporting by Saeed Azhar and Kevin Lim; Editing by Kim Coghill)