Lendlease’s power-play; Essential Met als’ mystery suitor; MinRes bond deal

Good evening,

Lendlease has a deal it wants to keep under wraps.

Street Talk understands the construction giant has been quietly lining up buyers for Barangaroo’s electricity network, which it kept (instead of outsourcing to someone like Ausgrid) when it built the district.

The deal could be worth $150 million, and the auction is well into the binding bids stage, with the usual suspects understood to be taking a close look.

Over at the listed lithium players, we look at Essential Metals’ potential suitors after the company announced that it had received a non-binding indicative bid (that was later withdrawn). And JPMorgan is taking MinRes on a US trip for a two-tranche $US1 billion bond deal.

Elsewhere, NDIS services business T-shirt Ventures is readying a cash call and Dutch banking giant ING has tipped into a local fintech’s debt facility.

Happy reading,

Anthony Macdonald, Sarah Thompson and Kanika Sood
Street Talk Editors