+
Adani's Autralian coal port receives A$500mn private credit loan
PORTS & SHIPPING

Adani's Autralian coal port receives A$500mn private credit loan

The Adani Group unit controlling a significant Australian coal port, North Queensland Export Terminal Pty Ltd., has secured a private credit loan of approximately A$500 million, according to sources. The loan was provided by Farallon Capital Management and King Street Capital Management, as disclosed by individuals who requested anonymity due to the private nature of the transaction.

Spokespeople for the Adani Group, Farallon, and King Street declined to comment on the matter. Increasingly, Australian coal-related companies are resorting to higher interest-rate private loans as global banks become more hesitant to finance commodity-related businesses due to environmental, social, and governance (ESG) concerns. Earlier this year, Sydney-based coal miner Whitehaven Coal Ltd. secured a $1.1 billion loan for the acquisition of two mines, attracting 17 private credit lenders and only one bank. Similarly, a consortium led by Golden Energy and Resources Pte Ltd., controlled by Indonesia?s Widjaja family has approached direct lenders for funding.

The loan proceeds for Adani?s North Queensland Export Terminal are intended to refinance existing debt, according to the sources. A representative for the Adani Group also declined to comment. North Queensland Export Terminal, part of Bravus Australia, an Adani Group company, has operated the terminal under a 99-year lease acquired from a Queensland Government entity since June 2011.

Billionaire Gautam Adani?s ports-to-power conglomerate is one of India's largest thermal power producers with multiple coal-based plants. Despite recovering significantly from a damaging short-seller report last year, the group announced in December its plan to invest $100 billion in green energy over the next decade, aiming to become a net zero emitter by 2050. (Source: ET)

The Adani Group unit controlling a significant Australian coal port, North Queensland Export Terminal Pty Ltd., has secured a private credit loan of approximately A$500 million, according to sources. The loan was provided by Farallon Capital Management and King Street Capital Management, as disclosed by individuals who requested anonymity due to the private nature of the transaction. Spokespeople for the Adani Group, Farallon, and King Street declined to comment on the matter. Increasingly, Australian coal-related companies are resorting to higher interest-rate private loans as global banks become more hesitant to finance commodity-related businesses due to environmental, social, and governance (ESG) concerns. Earlier this year, Sydney-based coal miner Whitehaven Coal Ltd. secured a $1.1 billion loan for the acquisition of two mines, attracting 17 private credit lenders and only one bank. Similarly, a consortium led by Golden Energy and Resources Pte Ltd., controlled by Indonesia?s Widjaja family has approached direct lenders for funding. The loan proceeds for Adani?s North Queensland Export Terminal are intended to refinance existing debt, according to the sources. A representative for the Adani Group also declined to comment. North Queensland Export Terminal, part of Bravus Australia, an Adani Group company, has operated the terminal under a 99-year lease acquired from a Queensland Government entity since June 2011. Billionaire Gautam Adani?s ports-to-power conglomerate is one of India's largest thermal power producers with multiple coal-based plants. Despite recovering significantly from a damaging short-seller report last year, the group announced in December its plan to invest $100 billion in green energy over the next decade, aiming to become a net zero emitter by 2050. (Source: ET)

Related Stories

Gold Stories

Next Story
Real Estate

Peninsula Land launches 19 luxury villas in Pune

Pune’s residential landscape is witnessing a shift as premium homebuyers increasingly seek larger spaces, privacy and independent living options beyond high-rise apartments. Addressing this demand, Peninsula Land Limited, part of the Ashok Piramal Group, has launched AshokVillas, an exclusive collection of 19 premium furnished villas in Gahunje, Pune.The development combines the independence of a standalone home with the convenience and security of a managed residential community. Designed around low-density horizontal living, AshokVillas offers residents private spaces while providing acces..

Next Story
Infrastructure Urban

MyBranch Expands South India Network with 16 Workspace Centres

MyBranch has expanded its South India presence with a 50,000 sq ft flexible workspace network comprising 16 centres across 14 cities in Andhra Pradesh, Karnataka, Tamil Nadu and Telangana.The expansion reflects growing demand for flexible office infrastructure as businesses establish regional teams, satellite offices and operations beyond traditional metropolitan markets. MyBranch’s network spans Bengaluru, Coimbatore, Guntur, Hanamkonda, Hubballi, Hyderabad, Madurai, Mangaluru, Rajahmundry, Salem, Tirupati, Vellore, Vijayawada and Visakhapatnam, with a large office space in Chennai also und..

Next Story
Building Material

Walplast Launches Moisture-Resistant Gypsum Plaster Solutions

Walplast Products Pvt. Ltd. has expanded its HomeSure GypEx portfolio with the launch of GypEx MoistShield and GypEx Gold, two gypsum plaster solutions designed to address moisture-prone applications and improve plastering efficiency.The new products have been developed in response to the growing demand for faster construction processes, improved material performance and consistent surface quality. The solutions aim to simplify interior plastering while addressing specific application requirements across construction environments.“Through HomeSure GypEx MoistShield and GypEx Gold, we are exp..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code