Direct lender King Street Capital Management is one of the two lenders providing Adani’s North Queensland Export Terminal Pty Ltd the loan, with proceeds to refinance debt due in June, according to the people, who asked not to be named discussing private matters. Asset manager Sona Asset Management is the other financier of the six-year facility, one of the people familiar said.

The ability for Adani to secure new debt demonstrates that it is recovering from a fallout after the US indicted Gautam Adani over a bribery plot in November. The conglomerate’s stocks and bonds have largely recovered in value, after steep falls.

Adani Group is no stranger to private credit. Last year, Farallon Capital Management and King Street provided an around A$500 million loan to the company, Bloomberg News reported. 

North Queensland Export Terminal, which acquired a 99-year leasehold operation from the Queensland state government in 2011, is a part of Bravus Australia, an Adani Group company which runs integrated energy and infrastructure services in Australia. 

Representatives from Bravus Australia, King Street and Sona declined to comment. Adani Group didn’t respond to a request for comment.

The Australian Financial Review had earlier reported that the company was seeking a loan. 

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