Australian gold producer Ravenswood Gold Pty. has obtained a $650 million private credit loan from investment firm RRJ Capital to refinance existing debt, according to people familiar with the matter. The financing, reported through information also appearing in Bloomberg coverage, carries a 4.5-year tenor and an interest margin of 6.875% over the Secured Overnight Financing Rate. Sources, who requested anonymity due to the sensitivity of the discussions, said the proceeds will be used to retire the miner’s current liabilities. RRJ declined to comment, and Ravenswood Gold did not respond to inquiries.
Australia continues to emerge as a major beneficiary of the rapidly expanding $1.7 trillion private credit market, with funds increasingly deploying capital across commodities, real estate, and consumer sectors ranging from fast food to healthcare. RRJ Capital has been particularly active in the region’s lending landscape, backing several high-profile corporate refinancings. Its recent moves include majority funding for China-listed Bohai Leasing’s $550 million loan, which helped refinance part of a $1 billion maturity earlier this year, as well as participation in a $1.05 billion refinancing for Logan Group and KWG Group, secured against Hong Kong’s Corniche luxury residential project.
Ravenswood Gold, owned by EMR Capital and Indonesia’s Golden Energy and Resources Ltd., operates Queensland’s largest goldmine. The company is in the process of ramping up output to more than 200,000 ounces of gold annually, according to its website, making access to sizable financing a key component of its expansion and operational strategy.
