KUALA LUMPUR, Dec 5 (Bernama) -- Bursa Malaysia closed lower on Friday amid mixed regional market performance as investors turned cautious over a possible rate hike by the Bank of Japan (BOJ) and upcoming US economic data that may influence the Federal Reserve’s (Fed) interest rate decision next week. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) pared most earlier losses to settle 4.55 points easier, or 0.28 per cent, to 1,616.52 from Thursday’s close of 1,621.07. The benchmark index, which opened 0.37 of-a-point lower at 1,620.70, moved between 1,609.67 and 1,621.25 throughout the day. The broader market was negative, with decliners outpacing advancers 604 to 439. A total of 550 counters were unchanged, 1,151 untraded, and 18 suspended. Turnover declined to 3.17 billion units worth RM2.24 billion from 4.48 billion units worth RM2.75 billion yesterday. Rakuten Trade Sdn Bhd vice-presiden...
Adani Group has successfully secured a $207 million private credit loan to refinance debt for its North Queensland Export Terminal (NQXT) in Australia. The financing marks a significant recovery milestone for the Indian conglomerate after last year’s legal troubles.
💰 Key Loan Details
🔹 Loan Amount: A$330 million (US$207 million)
🔹 Lenders: King Street Capital Management & Sona Asset Management
🔹 Loan Term: Six years
🔹 Purpose: Refinance debt due in June 2025
📌 Why It Matters: Adani’s ability to secure new funding signals renewed investor confidence after its bribery scandal fallout in November 2024.
💬 Industry insiders: "Adani’s stocks and bonds have largely recovered in value after last year’s steep declines."
🏗️ Adani’s Growing Private Credit Strategy
🔹 Adani has increasingly relied on private credit lenders to finance its operations.
🔹 In 2024, Farallon Capital and King Street provided a $500 million loan to support the group.
🔹 NQXT operates under Bravus Australia, Adani’s energy and infrastructure division in the country.
📌 Long-Term Outlook: The 99-year leasehold of the North Queensland Export Terminal, acquired in 2011, remains a key asset in Adani’s global energy expansion strategy.
🚨 Adani's Reputation Rebuilds After 2024 Legal Scandal
📌 In November 2024, US authorities indicted Gautam Adani over a bribery plot, leading to:
- Plunging stock and bond values across Adani-linked firms.
- Investor skepticism about Adani’s financial stability.
📌 However, with this loan and recent market recovery, Adani Group is regaining its footing.
💬 Analysts: "This latest financing deal shows that institutional lenders are once again comfortable supporting Adani’s projects."
🔍 What’s Next for Adani?
✔️ Continued expansion in Australian coal exports through NQXT.
✔️ More private credit deals to support infrastructure projects.
✔️ Possible diversification efforts to further stabilize investor confidence.
📌 As the global energy landscape evolves, Adani’s ability to secure funding could determine its long-term success.
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