Adani Group Secures $207 Million Loan for Australian Coal Port

Adani Group has secured a private credit loan of about A$330 million ($207 million) for its coal port unit in Northern Queensland, Australia. The loan will be used to refinance debt maturing in June, according to sources familiar with the deal.

Lenders Involved

King Street Capital Management and Sona Asset Management are providing the 6-year loan to Adani’s North Queensland Export Terminal Pty. While representatives from Adani and King Street did not comment, Sona Asset declined to respond.

Adani’s Financial Recovery

Securing new debt highlights Adani Group’s recovery after its chairman, Gautam Adani, was indicted in the U.S. over a bribery case in November. Despite an initial drop, the group’s stocks and bonds have regained value.

Adani’s History with Private Credit

Adani has relied on private credit before. Last year, Farallon Capital Management and King Street extended a A$500 million loan to the company.

About North Queensland Export Terminal

The North Queensland Export Terminal, leased for 99 years from the Queensland state government in 2011, is part of Bravus Australia, Adani’s energy and infrastructure arm in the country. The Australian Financial Review had previously reported Adani was seeking this loan.

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