Singapore Power Ltd. hired six banks to help arrange a S$1.5 billion ($1.2 billion) 10-year project finance loan, according to three people familiar with the matter.
The proceeds will help fund the construction of two tunnels to carry electricity cables under Singapore, the people said, asking not to be identified because the details are private. The banks are Bank of Tokyo-Mitsubishi UFJ Ltd., DBS Bank Ltd., Mizuho Corporate Bank Ltd., Oversea-Chinese Banking Corp., Sumitomo Mitsui Banking Corp. and United Overseas Bank Ltd. (UOB), the people said. Full story
