Reuters 16 August 2013
Malaysian state-owned utility Tenaga Nasional Bhd is seeking 1 billion euros ($1.33 billion) in financing to back a bid for Ireland’s Bord Gais Energy, Basis Point reported on Friday, citing bank sources.
Several unnamed international and Malaysian banks had submitted proposals after Tenaga sent out a request for proposals for a bridge loan, the report said. A mandate for the loan has not been awarded. Basis Point is a Thomson Reuters publication.
Bord Gais Eireann announced in May that it had started the sale process for its energy unit, which sources expect to fetch about 1.5 billion euros.
RBS Capital Markets is financial adviser to Bord Gais Eireann. The Irish state-owned group plans to complete the sale by the end of the year.