Adani Group’s unit managing a major coal port in Australia has secured a private credit loan of approximately A$500 million ($333 million), sources familiar with the matter revealed.
The loan was obtained by North Queensland Export Terminal Pty Ltd. from Farallon Capital Management and King Street Capital Management, according to insiders who preferred anonymity due to the confidential nature of the deal. Representatives from an Australian Adani group company, Farallon, and King Street declined to comment on the matter.
Financial Landscape
Amid global banks’ growing reluctance to finance commodity-related ventures due to environmental, social, and governance (ESG) concerns, Australian coal companies are increasingly turning to private loans with higher interest rates. Earlier this year, Sydney-based Whitehaven Coal Ltd. secured a $1.1 billion loan for mine acquisitions, attracting 17 private credit lenders and only one bank. Similarly, a consortium led by Golden Energy and Resources Pte Ltd., affiliated with Indonesia’s Widjaja family, has also explored direct lending options.
Utilization and Refinancing
The proceeds from the private loan acquired by Adani’s North Queensland Export Terminal will be used to refinance existing debts, as disclosed by sources. An Adani Group spokesperson declined to provide further comment.
North Queensland Export Terminal operates under Bravus Australia, an Adani Group subsidiary involved in integrated energy and infrastructure services across Australia. The terminal secured a 99-year leasehold from the Queensland Government entity in June 2011.
Gautam Adani’s Vision
Gautam Adani, the billionaire behind the Adani Group, oversees one of India’s largest thermal power producers with numerous coal-based plants. Despite facing challenges from a critical short-seller report last year, the group announced plans in December to invest $100 billion in green energy initiatives over the next decade, aiming to achieve net-zero emissions by 2050.
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