Economics
Rinehart Record Debt Lures Even as China Slows: Australia Credit
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Global lenders are competing to offer a record debt deal for an Australian mining project to Gina Rinehart, Asia’s richest woman, betting her iron-ore deposits are rich enough to prosper even as China slows.
Rinehart’s Roy Hill Holdings Pty expects to complete financing talks this year an about A$7 billion ($6.4 billion) to help fund its mine, rail and port project. National Australia Bank Ltd. and BNP Paribas SA are helping arrange some A$3 billion of debt to back the development in the remote north of Western Australia state, said a person familiar with the matter.