Adani signs $207 million private loan for Australia coal port
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.
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