Adani abbot to raise $1.2 billion debt

The Adani Group-controlled Adani Abbot Point Terminal Pty Ltd, which owns a coal terminal in Australia, plans to raise $1.2 billion through multiple debt instruments to refinance the port company’s borrowings. The port company, owned by Adani family, has a debt of nearly $2 billion. The documentation of this debt issuance is at the final stages. The entire process is done out of Australia,” the person said. In June 2011, Adani Ports (then Mundra Port and SEZ Ltd), acquired Abbot Point Coal Terminal at Queensland in Australia for nearly $2 billion from the state of Queensland. The deal was originally funded by State Bank of India and Standard Chartered Bank.