Photo: Bloomberg
').insertAfter(".article-content__img");$(".article-content__img div").find('div').remove();
Adani In Talks For $400 Mn Debt Against Australian Coal Port Assets: Report
North Queensland Export Terminal, which is controlled by Adani family trust, is being considered to raise funds for the group, according to the report on Monday, citing sources aware of fundraising
Topics
Adani Group | Debt | Fundraising
India's Adani Group is in talks with global credit funds to raise up to $400 million in debt against assets of the Carmichael coal mine, the Economic Times reported on Monday.
The Adani Group, which saw about $145 billion wiped off its market value after a U.S. short seller accused it of improper use of offshore tax havens, operates the Carmichael coal mine, the North Queensland Export Terminal, which is a major port for Queensland coal exports, as well as a solar farm in Australia.
The North Queensland Export Terminal, which is controlled by the Adani family trust, is being considered to raise funds for the group, according to the report on Monday, citing sources aware of the fund-raising.
Australia's corporate regulator earlier this month said it will review Hindenburg's report that has flagged a wide range of concerns about the group led by billionaire Gautam Adani.
The Indian conglomerate is in discussions with several large high-yield global credit funds and so far received two indicative term sheets from potential lenders which include hedge fund Farallon Capital Management, ET reported.
Farallon Capital declined to comment on the report, while Adani Group did not immediately respond to Reuters request for a comment.
Reuters recently reported Australia's corporate regulator said it would review a short-seller report that had flagged a wide range of concerns about the Adani Group.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Subscribe to Business Standard Premium
Exclusive Stories, Curated Newsletters, 26 years of Archives, E-paper, and more!
First Published: Mon, February 27 2023. 08:56 IST
RECENT NEWS
Monzo Looks For US Banking License
Monzo is preparing a renewed push to secure a US banking licence, four years after abandoning its first attempt when tal... Read more
Crypto Firms Push Into US Banking
America’s cryptocurrency companies are scrambling to secure a foothold in the country’s traditional banking system, ... Read more
Parallel Banking: Stablecoins Are Now Global
Parallel Banking: How Stablecoins Are Building a New Global Payments SystemStablecoins—digital currencies pegged to tr... Read more
JPMorgan Deploys AI Chatbot To Revolutionize Research And Productivity
JPMorgan has deployed an AI-based research analyst chatbot to enhance productivity among its workforce, with approximate... Read more
Private Equity And Banks: The Complex Web Of Leverage
Private equity has emerged as a significant force in the global financial landscape, driving substantial growth and inve... Read more
Financial Watchdog Highlights Unresolved Vulnerabilities In Shadow Banking Sector
The world’s leading financial stability watchdog has issued a warning about the unresolved vulnerabilities within the ... Read more