SYDNEY, Australia, Sept 2 (Bernama-GLOBE NEWSWIRE) — Arowana’s private credit investment arm has reached an agreement with ICAM Duxton STC Holdings Pty Ltd (“ICAM” or “the Borrower”) regarding the early settlement of its secured infrastructure debt facility for the Lucky Bay Port in South Australia. This has enabled co-investors with Arowana to realise a return in excess of the target IRR of 15%.
Lucky Bay provides an alternative grain supply channel for grain growers and other commodity suppliers on the Eyre Peninsula in South Australia. It is run by ICAM Duxton Port Infrastructure Trust (IDPIT) with ICAM as the fund manager and T-Ports as the operator, specialising in innovative logistical solutions for the export of Australian commodities. T-Ports was established by IDPIT in 2018 to initiate construction and project management of the Lucky Bay Port Facility development, with ICAM securing private debt and equity capital. The Lucky Bay Port generates road freight savings for grain growers from the Eyre Peninsula of up to $15 per tonne and 4,600 tonnes of CO2 emission savings annually.