PT Adaro Energy Tbk operates the largest single-site coal mine in the southern hemisphere (Tabalong), and is a major supplier to the global seaborne thermal coal market. Adaro’s coal is widely used throughout Europe, Asia and the Americas.

Adaro’s vision is to be the largest and most efficient integrated coal mining and energy company in south east Asia. The company and its subsidiaries deal in coal mining and trade, coal infrastructure and logistics, and mining contractor service. Each operating subsidiary is positioned as an independent and integrated profit centre.

Indonesia: Adaro operates under a Coal Cooperation Agreement with the Indonesian government. It is allowed to mine coal within its agreement area in the Tanjung district of South Kalimantan Province – around 36,000 hectares located 15 kilometres east of the provincial town of Tanjung. Additionally, in October 2016, Adaro became the sole owner of the IndoMet Coal project after buying BHP’s 75% stake. IndoMet comprises seven Coal Contracts of Work located in Central and Eastern Kalimantan.

Kestrel Coal mine Queensland

Workers at the Kestrel underground coal mine in Queensland. Credit: Rio Tinto


Australia: Adaro bought the underground Kestrel coal mine in Queensland, Australia from Rio Tinto in 2018. Read our article on how ANZ bank helped finance the $1.7 billion deal.

Share Offerings

Shareholders

InvestorOwnership (%)Date
1. PT Adaro Strategic Investments43.9131 Mar 2019
2. Garibaldi Thohir6.1831 Mar 2019
3. Edwin Soeryadjaya3.2931 Mar 2019
4. Theodore Permadi Rachmat2.5431 Mar 2019
5. Dimensional Fund Advisors, L.P.1.6130 Jun 2019
6. The Vanguard Group, Inc.1.4231 May 2019
7. BlackRock Institutional Trust Company, N.A.1.0130 Jun 2019
8. First Trust Advisors L.P.0.2730 Jun 2019
9. CPP Investment Board0.2631 Mar 2019
10. Arini Saraswaty Subianto0.2531 Mar 2019

Loans

InstitutionTotal aggregate debt (US$ million)Number of dealsYear of most recent deal
OCBC Bank$554142018
Bank of Tokyo-Mitsubishi UFJ (MUFG)$511142018
DBS Bank$507152018
Sumitomo Mitsui Banking Corporation$455132018
Bank Mandiri$322102018
HSBC$270122018
CIMB Group$23992018
 Australia and New Zealand Banking Group$22682018
United Overseas Bank$172102018
Mizuho Financial Group$136102018
Citigroup$8572018
CTBC Bank$6262018
Korea Development Bank$5252018
ING Bank$4512014
ABN Amro$4312010
Chinatrust Commercial Bank$2852013
Nord LB$2612010
Bank of China$2512018
Maybank$2012014
Bangkok Bank$1712010
Credit Agricole Group$1522011
Societe Generale$1022011
Commerzbank$912010
Bank Lippo$712010

Bonds

Structure

Disclaimer

PLEASE NOTE: The US$ figures presented are the sum of lenders’ corporate loans to Adaro from 2006-June 2019. The ‘number of deals’ column indicates the number of deals (of a total of 17 transactions identified) in which a bank has been involved.

Information comes from Adaro’s annual reports, as well as other public and subscription-based information sources. Occasionally, where information is incomplete, assumptions must be made about data and these were made in a consistent manner and in good faith. Whilst we endeavoured to gather and include all relevant deals, we cannot guarantee the completeness of the information presented.

Last Updated: 2 August 2019