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Adani in $100m debt scramble

Peter Ker

Adani has urgently pumped more than $100 million into a crucial Australian subsidiary after the coronavirus derailed debt refinancing efforts, triggering ratings downgrades and steep falls in the value of the company's bonds.

Australian-registered company Adani Abbot Point Terminal (AAPT) has signalled to lenders it will repay by Friday the $100 million of debt that is due for repayment next month, after an 11th-hour funding injection from a related party.

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Peter Ker covers resource companies for The Australian Financial Review, based in Melbourne. Connect with Peter on Twitter. Email Peter at pker@afr.com

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    Original URL: https://www.afr.com/companies/mining/adani-in-100m-debt-scramble-20200414-p54jls