Wed Sep 25 04:03:09 UTC 2024: ## Rare Move: Australian Coal Miner Issues Dollar Bond Amid Market Hesitation
**Sydney, Australia** – In a move that bucks a recent trend, Coronado Global Resources Inc., an Australian coal mining company, has issued a rare dollar-denominated bond. The $400 million five-year note, issued by Coronado Finance Pty Ltd., carries a high yield of 9.25%, reflecting the increased risk associated with coal-related investments.
This issuance is particularly noteworthy as it comes at a time when global fund managers are increasingly wary of financing industries with high carbon emissions. Coal mining, in particular, has faced growing scrutiny and diminished investor interest.
The bond offering marks one of only a few such deals by coal miners in the dollar market this year. Indonesia’s Indika Energy and US producer Alliance Resource Operating Partners LP are the only other two known issuers to have successfully completed similar bond offerings in the first half of 2024.
This trend has led some coal miners to turn to alternative financing options, such as private credit managers. For example, Singapore’s Golden Energy and Resources recently secured a $600 million loan from firms like Davidson Kempner Capital Management LP.
Coronado’s decision to venture into the dollar bond market despite the current climate underscores the company’s confidence in its financial outlook and the potential for growth in the coal industry.
First Piper 