Thursday 20 October 2016 by FIIG Research Company factsheets

Adani Abbot Point Terminal Pty Ltd AUD 5.75% November 2018 Senior Secured Bond factsheet

Adani Abbot Point Terminal Pty Ltd AUD 5.75% 01 November 2018 Senior Secured Bond

Adani Abbot Point Terminal (AAPT or the Issuer) is a wholly-owned subsidiary of Mundra Port Holdings Trust (MPHT), the guarantor of the notes issued by AAPT. MPHT holds the 99-year long term lease on the Abbot Point Coal Terminal (acquired from the Queensland Government in June 2011) which is then sublet to AAPT. The Abbot Point Coal Terminal is located in the Port of Abbot Point, approximately 25km north of Bowen, Queensland. The terminal has been developed in stages and has a nameplate capacity of 50 million tonnes per annum (Mtpa).

Both AAPT and MPHT are ultimately owned by the Adani group, a global integrated infrastructure company headquartered in India with diversified businesses in the resources, logistics, energy and agro sectors. AAPT currently has nine long-term, take-or-pay (TOP) user agreements with companies or joint ventures operating coal mines in the Newlands, Collinsville, Sonoma, Goonyella, Bowen Basin and Galilee Basin areas. The high quality and low cost characteristics of metallurgical and thermal coal from this region supports the global export demand for coal in this region.

AAPT’s terminal continues to be operated by its incumbent operator, Abbot Point Bulk Coal Pty Ltd (APB) under the Adani group’s ownership following the sale of APB to Abbot Point Operations Pty Ltd (APO) by Glencore in September 2016.