RRJ Capital provides $140m private credit facility to Tahmoor Coal
Private credit firm RRJ Capital has agreed to provide a $140m senior secured loan to Australian coking coal producer Tahmoor Coal to support the restart of its mining operations, according to a report by Bloomberg.
RRJ Capital, a private credit firm, has secured a $140 million senior secured loan for Australian coking coal producer Tahmoor Coal to aid the resumption of its mining activities, Bloomberg reported. This deal underscores the expanding role of private lenders in funding assets that are now proving more difficult for conventional banks.
Signed in principle but not yet funded as of September 21, according to sources, the five-year facility was arranged by Sydney-based Grant Samuel. Both RRJ Capital and Grant Samuel did not provide immediate comment, while Tahmoor Coal did not respond to requests for information. This financing follows a trend where banks have become more selective about lending to coal and other fossil-fuel projects due to environmental, social, and governance policies that limit certain forms of traditional bank financing.
Private credit managers, known for their ability to provide customized financing structures and direct lending solutions, have been able to target segments of the market where traditional lenders have scaled back their involvement. This transaction mirrors the success seen in a $1.1 billion acquisition financing done by Whitehaven Coal in 2024, which attracted 17 private credit lenders along with one bank, showcasing the significant participation of private debt providers in financing large Australian mining transactions.
RRJ Capital raised $1.1 billion for its inaugural private credit fund earlier this year, bolstering the firm's capacity to pursue direct lending opportunities across the Asia-Pacific region. Tahmoor, situated in New South Wales, was once owned by GFG Alliance, which acquired the mine from Glencore in 2018.
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