Adani signs A$330m private loan for Australia coal port
Indian conglomerate Adani Group has signed an around A$330-million ($207-million) private credit loan for its coal port unit located in Australia’s Northern Queensland, according to people familiar with the matter.
Direct lender King Street Capital Management is one of the two lenders providing Adani’s North Queensland Export Terminal Pty. the loan, with proceeds to refinance debt due in June, according to the people, who asked not to be named discussing private matters. Asset manager Sona Asset Management is the other financier of the six-year facility, one of the people familiar said.
Representatives from Adani, North Queensland Export Terminal, and King Street didn’t immediately respond to emails seeking comment. Sona Asset declined to comment.
The ability for Adani to secure new debt demonstrates that it is recovering from a fallout after the US indicted Gautam Adani over a bribery plot in November. The conglomerate’s stocks and bonds have largely recovered in value, after steep falls.
Adani Group is no stranger to private credit. Last year, Farallon Capital Management and King Street provided an around A$500-million loan to the company, Bloomberg News reported.
North Queensland Export Terminal, which acquired a 99-year leasehold operation from the Queensland state government in 2011, is a part of Bravus Australia, an Adani Group company which runs integrated energy and infrastructure services in Australia.
The Australian Financial Review had earlier reported the company was seeking a loan.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation