ET Report: Adani is negotiating a $400 million loan secured by Australian coal port assets

27 Feb 2023 , 09:48 AM

The Economic Times stated that India’s Adani Group is in discussions with international credit funds to raise up to $400 million in debt against a significant Australian coal port asset that accounts for a sizable share of its shipments of the fossil fuel from Carmichael mine.

According to a report on Monday that cited persons familiar with the fund-raising, the North Queensland Export Terminal (NQXT), which is under the jurisdiction of the Adani family trust, is being evaluated as a potential source of funding for the organization.

According to the article, the Indian conglomerate has started talks with a number of sizable high-yield global credit funds and has already received two indicative term sheets from potential lenders, among them the hedge fund Farallon Capital.

According to a recent story from Reuters, Australia’s corporate regulator said it would examine a short-seller report that raised a number of issues with the Adani Group.

The corporation runs a solar farm, a significant port for Queensland coal exports, the Carmichael coal mine, a linked rail route, and the North Queensland Export Terminal in Australia.

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