Kestrel duo eye lower funding cost

摘要

The US$1.7bn financing for Indonesia's adaro energy and Australian private equity firm emr capital's acquisition of Rio Tinto's Kestrel coking coal mine could include a larger portion of the project loan if syndication goes well, market sources familiar with the situation said. As the sponsors consider options to cut their overall financing costs, the more expensive US$400m 12-month bridge to high-yield bond issue could be reduced in size as it received an indicative rating of about B+, lower than the BB+ rating the two leads had earlier envisaged, the sources said.